THE ECONOMIC AGREEMENT BETWEEN THE BASQUE COUNTRY AND SPAIN
SECTION 8 CAPITAL TRANSFER TAX AND STAMP DUTY Article 30.–Applicable legislation The Capital Transfer Tax and Stamp Duty is agreed to be a tax subject to Basque legislation, except in cases of certain company operations, bills of exchange and documents used in their stead or serving the purposes of a draft, which shall be regulated by the so-called common legislation. In such cases the competent institutions of the Historical Territories may adopt their own filing and payment forms, which shall contain at least the same information as those of the common territory, and may set the payment deadlines for each settlement period, which shall not be substantially different from those set by the Administration of the State.
Article 31.–Levying of the Tax The tax shall be levied by the respective Territorial Governments on the following: 1. On transfers for valuable consideration and leases of real property, and on the establishment and assignment for valuable consideration of real property rights, including guarantees, when the assets are located in basque territory. In the cases referred to in article 108 of Law No. 24 of July 28, 1988 governing the Securities Market, when the real property comprising the assets of the entity whose securities are transferred is located in basque territory. 2. On transfers for valuable consideration of movable goods, stock and loans, as well as the establishment and assignment of rights thereon for valuable consideration, when the individual purchaser has his or her habitual residence in the Basque Country or the corporate purchaser has its fiscal domicile therein. The above notwithstanding, two provisions are established: a) In transfers of shares, subscription rights, debentures and similar securities, as well as participation certificates, the place of formalisation of the transaction shall apply. b) In the constitution of chattel mortgages or pledges without transfer of possession, or concerned with ships, vessels or aircraft, the territory where such acts are to be registered shall apply. 3. On the constitution of simple loans, guarantee deposits, nonproperty leases and pensions, when the borrower, lessee, receiver of guarantee or pensioner is a private individual and has his or her habitual residence in the Basque Country, or is a corporate body and has its fiscal domicile in that territory. 154