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Form 100. Personal Income Tax Return Declaration 2017

8.3.1. General tax base

The general tax base will be the result of adding the following balances:

  1. The balance resulting from integrating and offsetting each other, without any limitation, in each tax period, the following income and income allocations:

    • Performances: (positive or negative balance)

      • Work performance

      • Real Estate Capital Returns

      • Income from movable capital of art. 25.4 of the Law

      • Income from movable capital from related entities

      • Returns from Economic Activities

    • Income imputations: (positive or negative balance)

      • Imputed Real Estate Income

      • International Fiscal Transparency Regime

      • Transfer of Image Rights

      • Collective Investment Institutions established in Tax Havens

      • Imputations of Economic Interest Groups and Temporary Business Unions

  2. The positive balance resulting from integrating and compensating, exclusively among themselves, in each tax period, the capital gains and losses that do not derive from the transfer of assets.

    These gains and losses are integrated and offset exclusively by each other. If the result of the compensation is positive, the balance is integrated into the general tax base.

    However, if the result of the compensation shows a negative balance, its amount will be offset with the positive balance of the "income and income allocations" in section A) above, with a limit of 25 percent of said positive balance.

    If after said compensation a negative balance remains, its amount will be compensated in the maximum amount allowed in the following four years in the same order established in the previous paragraphs. In no case will this compensation be made outside the period of four years, through accumulation with capital losses from subsequent years.

INCOME FROM MOVABLE CAPITAL FROM THE TRANSFER TO THIRD PARTIES OF OWN CAPITAL THAT FORM PART OF THE GENERAL TAX BASE (Art. 46 Law)

As of January 1, 2009, the income from movable capital derived from the transfer to third parties of own capital from related entities will only form part of the general income to the extent that they correspond to the excess amount of the own capital transferred to the related entity with respect to the result of multiplying the taxpayer's participation in the entity by three.

For the purposes of computing said excess, the amount of the related entity's own funds reflected in the balance sheet corresponding to the last fiscal year closed prior to the date of accrual of the Tax and the percentage of participation of the taxpayer existing on this date will be taken into consideration. .

In cases in which the relationship is not defined based on the partner or participant-entity relationship, the percentage of participation to be considered will be 5 percent.