Wealth tax: exemption for shares received in return for subscribing to SME capital

The Economic Initiative Act exempts from the wealth tax (ISF) shares received by the taxpayer in return for subscribing to the capital, in cash or by contributing assets needed for the business, of a small or medium-sized enterprise within the EU definition that carries on exclusively an industrial, commercial, craft, agricultural or professional activity and has its registered office in the European Union (Article 885 I ter of the General Tax Code). The measure applies to subscriptions made from the publication of the Act.