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V1789-19 ·11 July 2019 ·consulta-vinculante Medium impact
Tax

Conversion and transfer of subordinated bonds generate negative returns, while issuance of new bonds generates positive returns

A taxpayer held subordinated bonds that were converted into shares and immediately transferred without consideration. The DGT ruled that this constitutes a redemption of bonds with negative returns, and that the subsequent delivery of new bonds is considered a return on movable capital in kind.

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2019-07-11PublishedPublished 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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