Capital gains and losses
Determining the amount of capital gains or losses: general rules
Capital gains or losses arising from profitable transfers
Transmissions or redemptions of shares or participations in collective investment institutions regulated by Law 35/2003
Law 11/2021, of July 9, on measures to prevent and combat tax fraud, effective from January 1, 2022, modifies article 94 of the Income Tax Law in order to standardize the treatment of investments in certain Collective Investment Institutions, known as listed investment funds and companies ( ), regardless of the national or foreign market in which they are listed. Thus, the treatment of those listed on the Spanish stock exchange with respect to the non-applicability of the deferral regime is extended to listed collective investment institutions listed on a foreign stock exchange.
Please note that Law 11/2021, of July 9, on measures to prevent and combat tax fraud, in relation to Corporate Income Tax, established additional requirements for variable capital investment companies (SICAV) to be able to apply the 1% tax rate. This amendment is accompanied by a transitional regime for SICAVs that agree to their dissolution and liquidation, which aims to allow their partners to transfer their investments to other collective investment institutions that meet the requirements to maintain the 1 percent corporate tax rate.
However, Law 11/2021 itself added a new thirty-sixth transitional provision to the Personal Income Tax Law to establish a transitional regime that allows those acquired in foreign markets before January 1, 2022 to continue applying the deferral regime, with the exception that the reinvestment must be made in collective investment institutions other than ETFs.
Perception of premiums paid for the granting of a purchase option contract
For the purposes of declaring capital gains and losses, it must be taken into account that Supreme Court Judgments numbers . 803/2022 and 804/2022, both dated June 21, have established as an interpretative criterion that the income obtained by the owner of a real estate property in exchange for offering the right to purchase it (the contract premium) constitutes a capital gain that must be integrated into savings income (and not into general income) as it implies a transfer, derived from the delivery of powers inherent to the right of ownership to which the owner temporarily renounces.
The grantor (owner) undertakes not to dispose of the property during the option period in exchange for a price and constitutes a real right of preferential acquisition in favour of the option holder, inherent or implicit in the right of ownership, from which it is separated, which implies a transfer and as such generates a profit that is independent of that which, where applicable, may be produced later on the occasion of the sale.
Capital gains or losses not derived from lucrative transfers
Aid of 200 euros to individuals with low income and assets
Article 31 of Royal Decree-Law 11/2022, of June 25, which adopts and extends certain measures to respond to the economic and social consequences of the war in Ukraine, to address situations of social and economic vulnerability, and for the economic and social recovery of the island of La Palma, introduced, in order to alleviate the harmful effect on prices caused by the energy crisis derived from the invasion of Ukraine, an aid called "Direct line of aid to individuals with low income and assets " which consisted of a one-time payment of 200 euros, for individuals with low income and assets, who are employees, self-employed or unemployed. This aid is considered capital gain for its beneficiaries.
Youth Cultural Bonus
Law 22/2021, of December 28, on the General State Budget for the year 2022 ( BOE of December 29) created, with effect from January 1, 2022, the so-called "Youth Cultural Voucher" aimed at facilitating young people's access to culture.
This is a one-time grant to young people who turn 18 in 2022 and meet certain requirements. The voucher has a maximum amount of 400 euros per beneficiary and must be used by the beneficiary to purchase cultural products and services offered by the entities that adhere to the program, during the maximum period of 1 year from its granting: After this period, the voucher is automatically cancelled and the beneficiary will no longer be able to use the unused amount. For its beneficiaries, this aid is considered capital gain in the amount that has been effectively used by the beneficiary.