8.2.6.2.2. Capital gains and losses arising from shares admitted to trading on official markets
This section shall declare the capital gains and losses obtained as a result of the transfer of shares admitted to trading on any of the official Spanish secondary securities markets or any other of those defined in Directive 2004/39/EEC of the European Parliament and of the Council, of April 21, 2004.
The following shall also be declared in this section:
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Capital gains and losses not subject to withholding arising from the reimbursement or transfer of shares or stocks in funds and companies (listed investment funds and listed index SICAVs) referred to in article 49 of the Regulation of Law 35/2003, of November 4, on Collective Investment Institutions.
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Capital gains and losses obtained as a result of the transfer of shares in Investment Companies admitted to trading on any of the official Spanish secondary securities markets or any other of those defined in Directive 2004/39/EEC of the European Parliament and of the Council, of April 21, 2004.
Note:
The following capital gains and losses are excepted, which must be declared, where applicable, in section "Gains and Losses from Transfers of Other Capital Assets"
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Those arising from the transfer of shares in entities whose assets consist of at least 50% of real estate located in Spanish territory, as referred to in Article 108 of Law 24/1988, of July 28, on the Securities Market.
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Those arising from the transfer of shares admitted to trading in any of the official secondary markets mentioned above, when the transfer has not been carried out in said markets or is considered to be an installment transaction or one with a deferred price.
NAME OF SECURITIES
The name or corporate name of the company issuing the transferred shares shall be recorded.
CALCULATION OF PROFITS AND LOSSES OBTAINED
A data capture window will open in which you must provide the following information for each profit or loss incurred:
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CAPITAL GAINS AND LOSSES FROM SHARES AND EQUITY TRADED ON ORGANIZED MARKETS
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You must select the type of security that gives rise to the capital gain or loss, distinguishing between those derived from shares of Real Estate and Mutual Funds and the rest.
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A selection menu will then open in order to distinguish capital gains based on the date of acquisition of the shares. In the case of a capital loss, you must select this concept.
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For each transaction, you must record the transfer value and the acquisition value of the shares. For these purposes, any gains (or losses) with the same generation period will be considered a single operation.
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The result will be obtained from the difference in the global amounts of the transfers made in the year, indicating whether any of said transfers are applied to the creation of life annuities for taxpayers over 65 years of age, or affected by the application of the corrective coefficients, and the global amount of the acquisitions.
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Additionally, if the acquisition was made before 31-12-1994, you must provide the value corresponding to the shares or interests for the purposes of the 2005 Wealth Tax. This value will be the average trading value corresponding to the fourth quarter of 2005, as set out in Order EHA/492/2006 of the Ministry of Economy and Finance, dated 17 February. The value that should be reflected will be the result of multiplying the number of shares by their unit value.
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Homogeneous securities repurchase operations.
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This box will be checked if the transfer gives rise to a loss and homogeneous securities have been acquired within the terms and conditions provided for in article 33.5, letter f) of the Tax Law, since the capital loss should not be computed until the subsequent definitive transfer of the reacquired securities occurs.
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CAPITAL GAINS AND LOSSES FROM SHARES IN REAL ESTATE INVESTMENT COMPANIES (SOCIMI) SUBJECT TO THE SPECIAL REGIME REGULATED BY LAW 11/2009.
For tax periods beginning on or after 1 January 2013, capital gains or losses arising from the transfer of shares in Public Limited Companies Listed on the Real Estate Market (SOCIMI) are determined according to the rules applicable to the transfer of listed securities, with the limited exemption previously enjoyed by shareholders on the capital gain obtained being eliminated.
Article 49. Listed Investment Funds and Index-Listed SICAVs (RD) 1309/2005, of November 4)
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Listed investment funds are those whose shares are admitted to trading on the stock exchange.
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The following are the requirements for the admission to trading on the stock exchange of the shares of an investment fund:
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Obtain authorization from the CNMV, in accordance with the procedure established in article 10 of the law. When the fund is deregistered from the corresponding registry of the National Securities Market Commission, the admission of its shares to trading on the stock exchange will be void.
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Comply with the special rules of article 52.1. At the time of admission to trading, the minimum number of participants shall not be required to be as established in article 3. The creation of funds before a notary and their registration in the commercial register will be discretionary.
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That the objective of the investment policy is to reproduce an index that meets the conditions set forth in article 38.2.d), as well as any other underlying that the National Securities Market Commission expressly authorizes.
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The SGIIC will determine the composition of the basket of securities and/or the amount of cash that may be exchanged for shares. Subscription and redemption operations must be carried out in the securities comprising the assets or in the necessary amount of cash, in accordance with the requirements of the management company. In this regard, the SGIIC may limit in the information prospectus the operation of subscriptions and redemptions only to entities, of those authorized in accordance with articles 64 and 65 of Law 24/1988, of July 28, of the Securities Market, to be able to provide investment services, with which it has signed a contract to this effect.
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In order to facilitate the alignment of the listed value with the estimated net asset value at different times of trading, there must be entities that undertake to offer firm buying or selling positions of shares with a maximum price differential. Such entities must belong to the categories indicated in paragraph d).
The fund's prospectus will contain the conditions and limits of the commitment assumed by these entities and the maximum range of quotes they will offer.
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Appropriate dissemination must be made through the governing body of the stock exchange on which it is listed of:
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The fund's portfolio.
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The composition of the basket of securities and/or the amount of cash that can be exchanged for shares.
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The estimated net asset value at different times of the contract.
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Other requirements that may be established by the CNMV.
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The procedure for transfer of shares provided for in Article 28 of the law shall not apply to listed investment funds.
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When the SGIIC allows subscription or redemption transactions to be settled in cash, it must establish mechanisms to pass on to investors who subscribe or redeem any imbalances that may occur in the reproduction of the index as a result of such transactions.
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These funds shall not be subject to the provisions of Article 40.
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The acquisition of shares in listed investment funds on the stock exchange will be exempt from the obligation to provide the simplified prospectus and the latest half-yearly report free of charge. In any case, upon request, the complete prospectus and the latest published annual and quarterly reports must be provided.
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The information documents of the institution containing information on the net asset value of the shares must also include the corresponding data based on the market price.
The CNMV may also determine the details that must be provided regarding the premium or discount of the quote with respect to the net asset value and the differences in profitability that occur between the reference index and the investment fund. All publications of the institution must clearly state that the fund is listed on the stock exchange and that its investment policy is to reproduce a certain index.
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Listed index SICAVs are those variable capital collective investment companies that comply with the provisions of the previous sections with the following specialties:
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At the time of admission to trading, the minimum number of shareholders shall not be required to be as established in article 6 of this Regulation.
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Paragraphs 3 to 6 of Article 52 and Articles 53 and 54 of this Regulation shall not apply to them.
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When the index SICAV is self-managed, all references made in this article to the SGIIC shall be understood to be made to the board of directors of the SICAV.
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The procedure for transfer of shares provided for in Article 28 of the Law shall not apply to the shares representing its share capital.
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