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V3277-20 ·4 November 2020 ·consulta-vinculante Medium impact
Tax

Company bankruptcy does not automatically result in a capital loss for shareholders

A taxpayer inquired whether they could declare a capital loss by renouncing shares in a bankrupt US company to avoid bank fees. The DGT ruled that renouncing the administration of securities does not constitute a transfer of assets nor a loss of ownership.

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2020-11-04PublishedPublished 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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