Any assignment of an Operating Permit, Mining Concession or Mining operation permit for Quarry Substances is, inter alia, taxed according to the capital gains regime in accordance with the provisions of the General Tax Code.
The basis for this capital gain is the difference between the price of the assignment of the Mining Title or Authorisation stipulated in the assignment agreement and the net book value of the Mining Title or Authorisation.
The Tax Administration may challenge the price of the assignment in the event where the price is concealed when the parties have voluntarily inserted an amount in the assignment agreement which is lower than the price actually paid, or in the event of an inadequate price, when the Tax Administration can establish that the arm’s length price is higher than the assignment price.
In accordance with Article 92 of the General Tax Code, the appreciated or depreciated value recorded is treated and taxed as normal income.