Exemption of income derived from the transfer of certain properties

As established in the Sixth Additional Provision of the LIS , they will be exempt in a 50 percent the positive income derived from the transfer of real estate of an urban nature that has the status of non-current assets or that has been classified as non-current assets held for sale and that had been acquired for consideration from May 12, 2012 until December 31, 2012, without the amount of impairment losses related to the assets being part of the income with the right to exemption. real estate, nor the amounts corresponding to the reversal of excess depreciation that has been tax deductible in relation to the recorded depreciation.

Cases of real estate acquired or transferred by persons or entities with certain corporate ties (article 42 of the Commercial Code) or kinship are excluded from the application of the sixth Additional Provision of the LIS that are indicated in it.

Filling in form 200

Taxpayers who are entitled to this exemption must include in box [00519] “Real estate transfer exemption ( DA 6 LIS)” on the page 13 of model 200, 50 percent of the positive income derived from the transfer of the properties (not excluded from the application) referred to, without that impairment losses related to such transferred properties form part of these income, nor the amounts corresponding to the reversal of excess depreciation that has been tax deductible in relation to the recorded depreciation.