Exemption for the first 1.500 € of dividends
This exemption disappears.
Sales of preferential rights to acquire shares.
These sales don ́t reduced the acquisition value of the shares they come from. Now they will be taxed on the sale period as capital gain. And in the moment of their transmission, the financial broker will have to make retention on account of seller ́s income tax. This regulation will be enforced by January the 1st of 2017.
Capital gains excluded from taxation in cases of investment
People over 65 years old, besides the case of exemption already established when they sell their habitual dwelling, now have a new case of exemption when they sell any kind of asset, if the product of the sale is invested within the next six months in the setting up of a permanent annuity in their favor. The maximum amount that can be destined to this annuity is 240.000 €.
When the total amount perceived for the sale is not totally invested, then the capital gain will be taxed proportionally to the amount not invested. And if moneys place in the permanent annuity would be reimbursed in advanced, then the exemption would be lost and there would have to repay the taxes not paid.
Revenues coming from an insurance established in favor of the mortgage creditor
In those cases in which a bank has established a life insurance over the loan guaranteed with a mortgage that would cover the permanent incapacity of the borrower, in case that incapacity takes place and therefore the debt disappears, the borrower would be taxed for the disappearance of the debt as if he/she would have been the beneficiary of the insurance.
New exemption for the Long Term Savings Plans
A new financial product is created called Long Term Savings Plans. The positive revenues coming from life insurances, deposits or financial contract that would create these new plans will be tax free if the tax payers do not dispose any amount from them in the term of five years from its creation. This Long Term Savings Plans will initiate with the payment of the first premium or the first placement and they will be call off with anticipated, even partially, reimbursement of the amounts placed before the five years term, or when the tax payers might make placements over 5.000 € in one year.
Placements to these Long Term Savings Plans cannot be over 5.000 € year in any of the years of existence of the Plan. If any of these conditions would be broken, then the Bank would charge tax retentions over all the revenues arisen from the beginning of the Plans as payment in advance of the tax that the tax payer will have to face for the loss of the exemption.