Transferred assets giving right to deduction
The assets transferred, which may generate income that constitutes the basis for this deduction, are the following:
Those that have belonged to tangible fixed assets, intangible assets or real estate investments used for economic activities that have been in operation for at least one year within the three years prior to the transfer.
Securities representing a holding in the capital or equity of all kinds of entities that grant a holding of no less than 5 per cent of their capital and which have been held at least one year prior to the date of transfer, provided that they are not the result of the dissolution or liquidation of these entities.The calculation of the transferred stake will refer to the tax period.
For the purposes of calculating how long the stakes have been held, the securities transferred are considered to be the oldest ones.
When the securities transferred correspond to entities that have assets not assigned to economic activities, according to the balance sheet of the last financial year closed, in a percentage higher than 15 percent of the assets, the deduction will not be applied to the part of the income obtained in the transfer that corresponds in proportion to the percentage that has been obtained.This percentage will be calculated on the consolidated balance sheet if the securities transferred represent an interest in the capital of a parent entity of a group according to the criteria established in article 42 of the Commercial Code, irrespective of residence and the obligation to prepare consolidated annual accounts, which will include jointly controlled entities and associates under the terms of commercial legislation.However, the taxpayer may determine this percentage on the basis of the market values of the items making up the balance sheet.
The following shall be considered unaffected items: direct or indirect shareholdings in the entities referred to in section 4 of article 42 of the RDLeg. 4/2004 and the assets and liabilities that constitute their assets, if they form part of the group referred to in the preceding paragraph.Those elements that fulfil the conditions established in numbers 1 and 2 of paragraph a) of article 4.Eight.Two of Law 19/1991, of 6 June, on Wealth Tax, shall be considered as affected elements.
The following values shall not be understood as falling within the values of this point (b):
That does not grant a share in the share capital or equity.
Are representative of the participation in the share capital or equity of entities not resident in Spanish territory whose income does not qualify for the exemption established in article 21 of RDLeg.4/2004.
Are representative of financial collective investment undertakings.
Are representatives of entities whose main activity is the management of movable or real estate assets under the terms provided for in Article 4.Eight.Two of Law 19/1991, of 6 June, on Wealth Tax.