{"id":9036445,"date":"2024-03-27T09:09:46","date_gmt":"2024-03-27T09:09:46","guid":{"rendered":"https:\/\/www.gremicat.es\/?p=9036445"},"modified":"2024-03-27T09:09:46","modified_gmt":"2024-03-27T09:09:46","slug":"capital-reduction-with-return-of-contributions-to-members","status":"publish","type":"post","link":"https:\/\/www.gremicat.es\/en\/capital-reduction-with-return-of-contributions-to-members\/","title":{"rendered":"Capital reduction with return of contributions to members"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9036445\" class=\"elementor elementor-9036445 elementor-9036443\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bbf6e1d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bbf6e1d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6cf9cc4\" data-id=\"6cf9cc4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ee44886 nuevoH2 elementor-widget elementor-widget-heading\" data-id=\"ee44886\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"nuevoH2\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">For the amounts received, the partner who leaves the company must pay 1% ITP in the form of corporate transactions.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-51691fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"51691fc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4361d28\" data-id=\"4361d28\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f33fcbc elementor-widget elementor-widget-text-editor\" data-id=\"f33fcbc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">For the amounts received, the partner who leaves the company must pay 1% ITP in the form of corporate transactions. In addition, he\/she must also pay personal income tax or corporate income tax, depending on whether he\/she is an individual or another company.<\/span><\/p><p><span style=\"font-weight: 400;\">If a partner wishes to leave the company, one of the options is that the rest of the partners buy his shares. However, this may not be feasible if it requires the disbursement of amounts that the partners do not have. It is therefore common to resort to a capital reduction: the company redeems the shares of the departing partner and pays him the amount at which they were valued.<\/span><\/p><p><b>Property Transfer Tax (ITP)<\/b><\/p><p><b>Subject to ITP<\/b><\/p><p><span style=\"font-weight: 400;\">The reduction of capital is subject to the ITP in its modality of corporate operations, which implies that it is not exempt from this tax. In general terms, the partner who separates from the company must pay 1% of the amount received as capital reduction.<\/span><\/p><p><b>Individual partner (Personal income tax)<\/b><\/p><p><b>General case<\/b><\/p><p><span style=\"font-weight: 400;\">When an individual partner receives amounts derived from the capital reduction, he\/she must pay tax on his\/her Personal Income Tax (IRPF). In this sense:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The part of the refund corresponding to the profits generated since the acquisition of the shareholding is considered as income from movable capital and is included in the personal income tax savings base.<\/span><\/li><\/ul><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The excess of the refund over these profits reduces the acquisition value of the shares.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any additional excess is taxed again as income from movable capital.<\/span><\/li><\/ul><p><b>Separation of partners<\/b><\/p><p><span style=\"font-weight: 400;\">If the capital reduction involves the total separation of the partner, the profits obtained are considered capital gains attributable to the savings base of the IRPF.<\/span><\/p><p><b>Partner legal entity (IS)<\/b><\/p><p><b>95% exemption<\/b><\/p><p><span style=\"font-weight: 400;\">When the partner who leaves the company is a partnership, it must pay Corporate Income Tax (IS) on the profit obtained. However, a 95% exemption applies if certain requirements are met:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The partner must hold at least a 5% interest in the company prior to the capital reduction.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Such shareholding must have been held uninterruptedly for at least one year.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">In summary, corporate transactions have important tax implications that the partners must consider, both in Personal Income Tax and Corporate Income Tax. It is essential to have specialized advice to properly manage these tax aspects.<\/span><\/p><p><span style=\"font-weight: 400;\">For further information, please contact <\/span><a href=\"https:\/\/www.gremicat.es\/en\/tax-and-accounting-advice\/\"><span style=\"font-weight: 400;\">Tax Advisory<\/span><\/a><\/p><p><span style=\"font-weight: 400;\">If you found it interesting share it on social networks, thank you!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>For the amounts received, the partner who leaves the company must pay 1% ITP in the form of corporate transactions. <span>&#8230;<\/span><\/p>\n","protected":false},"author":1,"featured_media":9036452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[873],"tags":[],"class_list":["post-9036445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - 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