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V0658-19 ·26 March 2019 ·consulta-vinculante Medium impact
Tax

Distribution of share premium reserve is fully taxable for the usufructuary of the shares

A taxpayer holding the usufruct of shares through a fideicommissary substitution requested guidance on calculating income from the distribution of a share premium reserve. The DGT ruled that the rule for reducing the acquisition value cannot be applied, and the full amount received must be taxed.

In 6 key points

How it affects those involved

The ruling clarifies that usufructuaries cannot reduce the taxable base of distributions from share premium reserves by applying the acquisition value reduction rule, resulting in a higher tax burden on the full amount received.

Lifecycle

2019-03-26PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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