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Form 100. Personal Income Tax Return Declaration 2017

8.3.3. Savings tax base

The tax base of savings is made up of the following components:

  1. POSITIVE BALANCE OF INCOME FROM MOVABLE CAPITAL DERIVED FROM (art.25. 1, 2 and 3) :

    • Participation in the own funds of entities

    • Transfer of own capital to third parties (unless it comes from entities linked to the taxpayer)

    • Capitalization operations

    • Life or disability insurance contracts

    • Income that is caused by the imposition of capital

    If the result of the integration and compensation shows a negative balance, it will be offset with the positive balance of the capital gains and losses derived from the transfer of assets that make up the savings tax base, obtained in the same tax period, with the limit for 2017 of 20 per 100 of said positive balance.

    If after said compensation there is a negative balance, the amount will be compensated in the following four years and in the same order.

  2. POSITIVE BALANCE OF EQUITY PROFITS AND LOSSES DERIVED FROM THE TRANSMISSION OF EQUITY ITEMS

    Included in this group is the positive balance of the capital gains and losses that arise on the occasion of transfers of assets or improvements made thereto.

    These gains and losses are integrated and offset exclusively among themselves, in each tax period. If the result of the compensation is positive, the balance is integrated into the savings 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 from the movable capital that forms part of the savings tax base, obtained in the same tax period, with the limit for 2017 of 20 percent of said positive balance.

    If after said compensation a negative balance remains, the amount will be compensated in the following four years and in the same order.

    Compensation must be made in the maximum amount permitted by each of the following years and cannot be carried out outside the period referred to in the previous section by accumulating 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.