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V3101-19 ·5 November 2019 ·consulta-vinculante Medium impact
Tax

The gratuitous creation of a usufruct over shares is classified as income from movable capital

A taxpayer wishes to establish a gratuitous life usufruct over 50% of a company's shares in favour of his father. The DGT rules that this transaction generates income from movable capital, which must be valued at fair market value.

In 5 key points

How it affects those involved

This ruling clarifies that the establishment of a usufruct without consideration is subject to taxation as income from movable capital, requiring an assessment based on market value rather than nominal value.

Lifecycle

2019-11-05PublishedPublished 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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