Equities
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27
STRUCTURE ORGANISATION AND OPERATION
OF THE SPANISH SECURITIES MARKET
At the state level, the following incentives
have been requested:
1. As for Corporate Income Tax, the proposal is to
implement a more benign tax regime for dividends and
capital gains, along the same lines as the one applied to
venture capital firms.
2. The exemption or rebate of Property Transfer
Tax and Stamp Duty for companies carrying out capi-
tal increases, and tax benefits for inheritance transfer of
MAB-listed shares. It has also been proposed that the
same tax regime be applied to this alternative market
as that used for other secondary securities markets, in
order to avoid potential discriminatory taxation.
3. A full deduction of Personal Income Tax (IRPF)
is requested for small savers who invest in a stable, non-
speculative manner in MAB-listed companies, and for
postponing Capital Gains Tax if the individual reinvests
in a MAB company.
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