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Form 100. 2018 Personal Income Tax return

7.3.2. Full income from movable capital

All profits or losses, whatever their denomination or nature, shall be considered as full capital income. in kind or in kind, which come, directly or indirectly, from equity elements, assets or rights, of a movable nature, whose ownership to the taxpayer and are not affected by economic activities carried out by the taxpayer.

The Tax Act provides that under no circumstances will the assets representing the participation in the equity of an entity be considered as affected and the transfer of capital to third parties (article 29.1.c) Act).

However, income derived from the transfer of ownership of the equity elements, even if there is a holding reserve agreement, they will be taxed as capital gains or losses, unless they are expressly classified as capital gains, such as the case of the transfer of assets representative of the acquisition and use of third-party capital (obligations, bonds, bills, promissory notes, etc.).

The consideration of return on movable capital will not be considered, without prejudice to its taxation for the corresponding concept, the consideration obtained by the taxpayer for the deferral or payment in instalments of the price of the transactions carried out in the course of their usual economic activity (article 25,5 of the Act).


If the return on movable capital is received in kind, the market value of the goods or services received must be included as a full income. The payment on account will be added to this value, unless the amount of the deposit has been passed on to the recipient of the income (article 43,2 of the Act).

Estimated RUNS (art.40 Act)

Compensation shall be presumed, unless proven otherwise, for the benefits of assets or rights that may generate capital gains (Article 6,5 of the Act)

The estimated income will be valued at the normal market value. Normal market value shall be understood as the consideration agreed by independent parties, unless proven otherwise.

In the case of loans and transactions involving the acquisition or use of capital from others in general, the normal market value shall be the legal interest rate of the money that is in force on the last day of the tax period.

The legal interest rate for the money established for 2018 is 3%. 100

Linked TRANSACTIONS (Article 41 of the Act)

In general, the rules for the assessment of related transactions are applied in the terms set out in the Corporation Tax Act.