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2017 Wealth tax

4.3.5. Quota limit. Completion

To calculate this limit, a data capture window will appear in box 30 "Sum of the IRPF tax bases", where the following information must be entered:

  • TYPE OF TAXATION IN THE PERSONAL INCOME TAX

    The type of taxation, individual or joint, will be indicated in the Personal Income Tax corresponding to the 2017 financial year.

  • DECLARANT DATA
    • Net value of unproductive assets

      The value of assets that, due to their nature or purpose, are not likely to produce income taxed by the Personal Income Tax Law, such as, for example, non-affiliated vehicles, jewelry, luxury furs, etc., will be indicated.

      The net value is obtained by subtracting from the value of these assets the deductible debts corresponding to them, as well as the proportional part of those other debts that, while also deductible, are not linked to any asset.

      If the value is zero, you can leave the box blank.

    • Personal Income Tax (IRPF boxes 0415 and 0435)

      The tax bases (general and savings) of the 2017 Income Tax declaration of the taxpayer will be indicated, in case of individual taxation, or of the family unit, in case of joint taxation.

      If the general tax base and the savings tax base are zero, you must indicate this by marking an “X” in the specific box established for this purpose.

      For the purposes of determining the amount of the taxable base for personal income tax savings, the following rules must be applied:

      ) The part of the aforementioned taxable savings base that corresponds to the positive balance of capital gains and losses obtained from transfers of assets acquired or improvements made to them with more than one year will not be taken into account.

      one year prior to the date of the transfer, the amount of which will be entered in box 32 on page 10 of the Wealth Tax return.

      To determine this amount, the net balance of capital gains and losses obtained in the year arising from the transfer of assets acquired more than one year prior to the date of the transfer must first be calculated.

      If the previous balance was negative or zero, zero will be entered in box 32. If the balance is positive, the positive net balance of capital gains and losses attributable to 2017 must be taken into consideration to be included in the savings tax base (box 0406 of the

      page 14 of the personal income tax return), and, where applicable, the compensation of the following balances - Negative net balance of capital gains attributable to 2017 to be integrated into the savings tax base (with a limit of 20% balance positive net of capital gains and losses attributable to 2017) [box 0416]

      - Negative net balances of capital gains and losses that do not arise from the transfer of securities received for subordinated debt or preferred equity transactions, from 2013 to 2014 pending compensation as of January 1, 2017, to be included in the savings tax base [box 0417]

      - Negative net balances of capital gains and losses derived from the transfer of securities received for subordinated debt or preferred stock transactions, from 2013 to 2014 pending compensation as of January 1, 2017, to be integrated into the savings tax base [box 0418]

      - Negative net balances of capital gains and losses for 2015, pending compensation as of January 1, 2017, to be integrated into the savings tax base [box 0419]

      - Negative net balances of capital gains and losses for 2016, pending compensation as of January 1, 2017, to be integrated into the savings tax base [box 0420]

      - Remaining negative net balances of capital gains derived from subordinated debt securities or preferred shares, from 2013 to 2014 pending compensation as of January 1, 2017, to be included in the savings tax base [box 0421)

      - Remaining negative net balances of movable capital returns from 2015, pending compensation as of January 1, 2017, to be integrated into the savings tax base, with a limit of 20 percent of the positive net balance of capital gains and losses attributable to 2017 [box 0422)

      - Remaining negative net balances of income from movable capital from 2016, pending compensation as of January 1, 2017, to be integrated into the savings tax base, with a limit of 20 percent of the positive net balance of capital gains and losses attributable to 2017 [box 0423].

      If the difference between the amount in box 0384 and the sum of boxes 0416, 0417, 0418, 0419, 0420, 0421, 0422 and 0423 is equal to zero, zero will be entered in box 032 of the Wealth Tax return.

    • If the difference between the amount in box 0406 and the sum of boxes 0416, 0417, 0418, 0419, 0420, 0421, 0422 and 0423 is positive, and the balance of capital gains and losses arising from the transfer of assets acquired more than one year prior to the date of the transfer (G and P>1) is equal to or greater than the amount entered in box 0406 of the personal income tax return, the difference between the amounts entered in boxes 0406 and the sum of boxes 0416, 0417, 0418, 0419, 0420, 0421, 0422 and 0423 of the personal income tax return shall be entered in box 32 of the Wealth Tax return.

      If the difference between the amounts in box 0406 and the sum of boxes 0416, 0417, 0418, 0419, 0420, 0421, 0422 and 0423 is positive, and the balance of capital gains and losses arising from the transfer of assets acquired more than one year before the date of the transfer (G and P>1) is less than the amount entered in box 0406 of the personal income tax return, the amount resulting from the following operation shall be entered in box 32 of the wealth tax return.

    • b) will be added to the amount of dividends and profit shares obtained by holding companies, regardless of the entity that distributes the profits obtained by the aforementioned holding companies.

    • Full IRPF quotas (IRPF boxes 0514 and 0515)

      The full IRPF quotas corresponding to the taxable bases (general and savings) of the declarant, in the case of individual taxation, or of the family unit, in the case of joint taxation, will also be indicated.

  • SPOUSE DATA (Wealth Tax)

    This section must only be completed in the case of joint income tax, provided that the spouse is required to file a Wealth Tax return.

    The program does not contemplate the possibility that minor children who, where applicable, are part of the family unit file a tax return for this tax.

    • Taxable base

      The taxable base resulting from the spouse's Wealth Tax return must be indicated (box 25 )

    • Net value of unproductive assets

      The net value of the spouse's assets that, due to their nature or purpose, are not likely to produce income taxed by the Personal Income Tax Law, such as, for example, non-affiliated vehicles, jewelry, luxury furs, etc., will be indicated.

      The net value is obtained by subtracting from the value of these assets the deductible debts corresponding to them, as well as the proportional part of those other debts that, while also deductible, are not linked to any asset.

      If the value is zero, you can leave the box blank.

    • Total tax liability

      The Full Quota corresponding to the spouse's Wealth Tax declaration will be recorded (box 29 )

JOINT TAXATION IN PERSONAL INCOME TAX

When the members of a family unit have opted for joint taxation on Personal Income Tax, the program will calculate the limit of the joint total quota of said Tax and that of the Wealth Tax by accumulating the total quotas accrued by them in this last tax.

Where applicable, the reduction to be applied will be prorated among the taxpayers in proportion to their respective full quotas in the Wealth Tax.