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V0706-22 ·1 April 2022 ·consulta-vinculante Medium impact
Tax

Stock trading commissions increase acquisition value or decrease disposal value

A taxpayer has enquired whether currency exchange commissions and expenses incurred when trading US shares are deductible for Personal Income Tax (IRPF) purposes. The Directorate General for Taxes (DGT) has ruled that trading commissions are inherent expenses that affect the acquisition and disposal values, whereas portfolio maintenance costs are deductible as income from movable capital.

In 6 key points

How it affects those involved

This ruling clarifies the tax treatment of transaction costs in foreign stock markets, distinguishing between costs that adjust the capital gain/loss and those treated as deductible expenses against movable capital income.

Lifecycle

2022-04-01PublishedPublished 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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