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A shareholder inquired whether they could declare a capital loss following the cancellation of their shares in an accordion operation, or if they must wait until the received warrants expire. The Directorate General for Taxes (DGT) ruled that warrants do not constitute a return of capital contributions and that the loss resulting from the total cancellation of shares is deductible in the tax year the reduction occurs.
This ruling clarifies the timing for tax purposes regarding capital losses arising from share cancellations involving warrants, confirming that the loss can be recognised immediately rather than being deferred.
The tax team reviews your specific situation.
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