Dividend payment with shares
Many listed companies substitute the payment to their shareholders of a cash dividend for a capital increase by issuing new fully paid-up shares charged to reserves from undistributed profits, granting their shareholders the corresponding free allocation rights for the subscription of these.
In these cases, the shareholders, holders of the free allocation rights, can subscribe the new shares, or transfer said rights on the market.
In the event that neither of these two possibilities is chosen, the company agrees to pay the shareholders a certain monetary compensation for each allocation right.
Sale of unlisted securities
When the alteration in the equity value comes from the transfer for consideration of securities not admitted to trading in any of the regulated markets, it is considered a transfer value, unless there is evidence that the amount actually paid is the one agreed upon by independent parties under conditions. market normals, the higher of the two values. Either, the value of the equity that corresponds to the transferred values resulting from the balance sheet of the last fiscal year closed before the accrual of the Tax, or the one that results from capitalizing at the rate of 20% the average of the results of the three closed fiscal years before accrual.
In the latter case, dividends distributed and allocations to reserves are computed as profits, excluding those for regularization or updating of balance sheets.
Acquisition value
To find the acquisition value, we must take into account the purchase value in case of transfer of subscription rights.
Subscription rights
To determine the acquisition value of the shares transferred, only the amount of the subscription rights disposed of before March 23, 1989, which is the date of entry into force of Royal Decree-Law 1/1989, is deducted.
The sale of pre-emptive subscription rights derived from this class of shares determines that the amount obtained is in any case considered to be a capital gain for the transferor in the tax period in which said transfer occurs, without being able to compute, in these cases, an acquisition value of said rights and for which the period of permanence will be taken as the period between the moment of acquisition of the value from which the right originates and that of the transfer of the latter.
Partially released shares
In the case of partially released shares, their acquisition value will be the amount actually paid by the taxpayer.
Fully released shares
In the case of fully paid-up shares, the acquisition value, of these and those that may come from, is the result of dividing the total cost among the number of shares, both the old and the released ones. The latter have, permanently, the same age as the original shares.
Identification of titles
In order to be able to individualize the alienated securities, especially when not all of those owned have been transmitted, the Law establishes a special criterion, according to which when there are homogeneous securities and not all are disposed of, it is understood that those transmitted by the taxpayer are those that acquired first (FIFO criterion). Transfer of shares or participations acquired before December 31, 1994
In this case, if a capital gain is obtained, the part of the capital gain that has been generated prior to January 20, 2006 (the only one on which the reducing or abatement coefficients are applicable) must be distinguished from that generated later. as of that date on which the reducing or abatement coefficients are not applicable. The determination of the capital gain generated before January 20, 2006 and the application, where appropriate, of the reducing coefficients will be made in accordance with the general rule discussed in this same Chapter.
Non-monetary contributions
Of the non-monetary contributions to companies, the gain or loss is determined by the difference between the acquisition value of the goods or rights contributed and the greater amount between the nominal value of the shares or social participations received for the contribution or, in its case case, the corresponding part of the same and to this value the amount of the issue premiums is added; the market value of the securities received on the day the contribution is formalized or the day immediately before: the market value of the contributed asset or right; and the transfer value thus calculated will be taken into account to determine the acquisition value of the securities received as a result of the non-monetary contribution.
Securities Portfolio Service
The Securities Portfolio application allows the automatic transfer of portfolio data to Renta Web. These data are automatically obtained through Informative Returns 189 and 198 and can be edited. Access is available on the procedures page for form 100 in the Electronic Office, in the 'Help Services' section.
With this tool, the composition of the portfolio as of January 1 of the year of accrual of the tax and the operations of the year is directly visualized. You can also dump all the income generated by the sale of listed shares, facilitating the declaration of capital gains and losses.
