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V0167-16 19 January 2016 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · participaciones sociales

No specific evidence exists to prove the market value of shares in a sale

A taxpayer asks how to demonstrate that the sale price of their shares in an unlisted limited company reflects what independent parties would have agreed. The DGT responds that the regulations do not establish a specific method of proof for this purpose.

The question raised

Method of certifying for Tax purposes that the value of the social shares corresponds to that which would have been agreed upon by independent parties.

The DGT's ruling

Tax regulations do not provide for a specific method of proof to certify that the value of the shares is that which would correspond to the price agreed upon between independent parties. The taxpayer must certify it through the means of proof admitted under Law, pursuant to Article 106 of the General Tax Law. The final assessment of such proof is the responsibility of the management and inspection bodies of the Tax Administration.

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