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V0088-16 14 January 2016 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · participaciones preferentes

Taxpayers may claim refunds on IRPF paid on interest from voided preferred shares

A taxpayer inquired about the impact of judicial nullity of preferred share contracts on the refund of interest received. The DGT indicates that taxpayers may request the rectification of tax returns to recover the tax paid on those interest payments.

The question raised

Tax implications in Personal Income Tax regarding the declaration of nullity with respect to the refund of gross interest from preferred shares.

The DGT's ruling

Interest from preferred shares must be declared as income from movable capital. In the event of judicial nullity of the contracts, the taxpayer may request the rectification of tax returns and the refund of undue payments. Pursuant to the forty-fourth additional provision of Law 35/2006, this possibility of rectification and refund is maintained even if the right to request it had prescribed.

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