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Practical Heritage Manual 2020.

Rules

1. In order to determine the amount of the tax base of personal income tax savings , the following rules must be applied:

  1. part of the aforementioned savings tax base that corresponds to the positive balance of the capital gains and losses obtained by transfers of acquired assets or improvements made therewith will not be taken into account ##1## more than one year in advance of the date of the transfer, the amount of which will be entered in box [32] of the Tax return. Heritage.

    To determine this amount, the net balance of the capital gains and losses obtained in the year that derive from the transfer of assets acquired more than one year before the date of transfer must be calculated, first of all.

    If the previous balance was negative or zero, zero will be entered in box [32].

    If the balance is positive, the positive net balance of capital gains and losses attributable to 2020 must be taken into consideration to be integrated into the tax base of the savings (box [0424] of the Personal Income Tax declaration ), and, where applicable, the compensation of the following balances.

    • Negative net balance of capital gains attributable to 2020 to be integrated into the savings tax base (with a limit of 25 percent positive net balance of capital gains and losses attributable to 2020). Box [0436]
    • Negative net balances of capital gains and losses for 2016, pending compensation as of January 1, 2019, to be integrated into the savings tax base. Box [0439]
    • Negative net balances of capital gains and losses for 2017, pending compensation as of January 1, 2019, to be integrated into the savings tax base. Box [0440]
    • Negative net balances of capital gains and losses for 2018, pending compensation as of January 1, 2019, to be integrated into the savings tax base. Box [0441]
    • Negative net balances of capital gains and losses for 2019, pending compensation as of January 1, 2019, to be integrated into the savings tax base. Box [0442]
    • Remainder of negative net balances of income from movable capital from 2016, pending compensation as of January 1, 2020, to be integrated into the savings tax base, with the limit of 25 percent of the positive net balance of attributable capital gains and losses to 2020. Box [0443]
    • Remaining negative net balances of income from movable capital from 2017, pending compensation as of January 1, 2020, to be integrated into the savings tax base, with a limit of 25 percent of the positive net balance of attributable capital gains and losses to 2020. Box [0444]
    • Remaining negative net balances of income from movable capital from 2018, pending compensation as of January 1, 2020, to be integrated into the savings tax base, with a limit of 25 percent of the positive net balance of attributable capital gains and losses to 2020. Box [0445]
    • Remaining negative net balances of income from movable capital from 2019, pending compensation as of January 1, 2020, to be integrated into the savings tax base, with a limit of 25 percent of the positive net balance of attributable capital gains and losses to 2020. Box [0447]

    If the difference between the amount of box [0424] and the amounts of the sum of boxes [0436] and [0439] to [ 0445] and [0447] is equal to zero, in box [32] of the Wealth Tax declaration will be entered as zero.

    If the difference between the amount of box [0424] and the amounts of the sum of boxes [0436] and [0439] to [ 0445] and [0447] is positive, and the balance of capital gains and losses derived from the transfer of assets acquired more than one year before the date of transfer (GyP>1) was equal to or greater than the amount entered in box [0424] of the Personal Income Tax declaration , in box [32] of The Wealth Tax declaration will include the difference between the amounts entered in boxes [0424] and the sum of boxes [0436] and [0439] to [0445] and [0447] of the statement IRPF ##26##.

    If the difference between the amounts in box [0424] and the amounts in the sum of boxes [0436] and [0439] to [ 0445] and [0447] is positive, and the balance of capital gains and losses derived from the transfer of assets acquired more than one year before the date of transfer (GyP>1) was less than the amount entered in box [0424] of the Personal Income Tax declaration , in box [32] of the declaration of the Wealth Tax, the amount resulting from the following operation will be recorded.

    (Profits and losses >1 ÷ Box [0424] ) x (Boxes [0424] - [0436] - [0439] - [0440] - [0441] - [0442] - [0443] - [0444] - [0445] - [0447] )

  2. The amount of dividends and shares in profits obtained by holding companies will be added, regardless of the entity that distributes the profits obtained by the aforementioned holding companies. 

    In accordance with the provisions of letter a) of section 1 of the tenth transitional provision of Law 27/2014, of November 27, on Corporate Tax ( BOE of 28), the Dividends and shares in profits received by taxpayers of Personal Income Tax and obtained by holding companies are not included in the tax base of Personal Income Tax nor are they subject to withholding or payment on account of this tax.

2. For the purposes of determining the full personal income tax savings quota , the following will not be taken into account: the part of said fee corresponding to the positive balance of those obtained from the transfers of assets acquired or improvements made therein more than one year prior to the date of the transfer, the amount of which will be entered in box [35] of the Wealth Tax declaration and which is the result of the following operation:

Box [35] = (Instalments corresponding to the taxable savings base Boxes [0540] - [0541] ÷ tax base of savings Box [0560] ) x Box [32]

3. For the purposes of determining the full amount of the Wealth Tax , the part of the full amount corresponding to assets that, due to their nature or destination, are not susceptible, will not be taken into account. of generating income taxed in the Personal Income Tax As an example of these assets, we can mention, among others, objects of art and antiques, jewelry, boats and automobiles for private use, unbuilt land, etc. .

The magnitude of the full amount corresponding to unproductive assets (CIBI) can be determined using the following formula:

CIBI = EPN x Integral Fee ÷ Taxable Base

CIBI being the full quota corresponding to unproductive assets and EPN being the net value of the assets that are not capable of producing income in the Personal Income Tax . That is, the value of such assets or rights reduced, where appropriate, by the amount of the deductible debts corresponding to them and the proportional part of the debts that, being equally deductible, are not linked to any specific asset element.

If there is an excess of the 60 percent limit, said excess must be reduced in the Wealth Tax quota, without the reduction being able to exceed 80 percent of said quota. That is, a non-reducable minimum fee is established in the Wealth Tax equivalent to 20 percent of the full fee of the tax itself.

Note: The quota limit established in article 31.1 of Law 19/1991 is not applicable to non-residents who have opted in accordance with the provisions of article 5.Uno.a) of Law 19/1991, of June 6, of the Wealth Tax ( BOE of June 7), due to the personal obligation to contribute to said Tax, since by not paying taxes in the Personal Income Tax , there is no possibility of adding the remaining full contributions in both taxes and relating them to a percentage of the tax base of Personal Income Tax