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Form 100. Personal Income Tax Return Declaration 2017

8.3.3. Savings tax base

The taxable savings base 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 equity of entities

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

    • Capitalization operations

    • Life or disability insurance contracts

    • Income resulting from the imposition of capital

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

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

  2. POSITIVE BALANCE OF CAPITAL GAINS AND LOSSES DERIVED FROM THE TRANSFER OF CAPITAL ELEMENTS

    This group includes the positive balance of capital gains and losses that arise from transfers of assets or improvements made to them.

    These gains and losses are integrated and offset exclusively against each other, in each tax period. If the result of the compensation is positive, the balance is included in the taxable savings base. However, if the result of the compensation shows a negative balance, its amount will be offset against the positive balance of the income from movable capital that is part of the taxable savings base, obtained in the same tax period, with the limit for 2017 of 20 percent of said positive balance.

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

    The offset must be made in the maximum amount permitted in each of the following years and may not be made outside the period referred to in the previous section by accumulating it to capital losses from subsequent years.

INCOME FROM CAPITAL PROPERTY 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 equity from related entities will only form part of general income to the extent that they correspond to the excess of the amount of equity transferred to the related entity over the result of multiplying by three the taxpayer's participation in the entity.

For the purposes of calculating this excess, the amount of the equity of the related entity 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 where the link is not defined based on the relationship between partners or participants-entity, the percentage of participation to be considered will be 5 percent.