7.3.3.8. Income from movable capital derived from subordinated debt securities or preferred shares

This section must include the negative returns on capital generated by the holding of subordinated debt securities or preferred shares for the year 2017.

For those taxpayers who receive compensation for agreements entered into with entities issuing subordinated debt or preferred shares, it is permitted to compute, on a voluntary basis, in the year in which the compensation is received, a single return in this section for the difference between the compensation received and the investment made, without having to reflect the intermediate steps of repurchase and subscription or exchange of securities.

If this special procedure is chosen, the difference between the compensation received and the investment initially made will be computed as income from movable capital. This compensation will be increased by the amounts previously obtained from the transfer of the securities received. In the event that these securities have not been transferred or delivered pursuant to the agreement with the issuers, the aforementioned compensation will be increased by the valuation that was taken into account for the quantification of the compensation.