Skip to content
Back to index
V0042-18 16 January 2018 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · acciones totalmente liberadas

Issuance of fully paid-up bonus shares does not constitute income, but their transfer generates capital gains

A query was made regarding the tax treatment of a programme offering bonus shares, cash dividends, or the sale of allocation rights. The DGT clarifies that bonus shares do not constitute income, whereas the sale of allocation rights results in a capital gain, and dividends are classified as income from movable capital.

The question raised

Tax treatment of the aforementioned operations within the Personal Income Tax of the shareholder.

The DGT's ruling

The issuance of fully paid-up bonus shares does not result in the acquisition of income for the shareholder. For future transfers, the acquisition value shall be the total cost divided by the number of old shares and the bonus shares, while maintaining the seniority of the original shares. The market transfer of rights to free allotment is considered a capital gain. Dividends received due to the waiver of rights are classified as income from movable capital.

Book your free first meeting