Back to index
V0181-22 4 February 2022 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Withdrawal from a cooperative is taxed as a capital gain or loss and does not qualify for reinvestment relief

A cooperative member has enquired about the taxation of the amount received upon withdrawal and whether they can apply for relief by reinvesting those funds into their new activity as a self-employed individual. The Directorate General for Taxes (DGT) has ruled that the amount constitutes a capital gain or loss and that reinvestment does not trigger any specific tax exemption.

The question raised

Taxation of the amount received upon separation and possible exemption or reduction through reinvestment of the amount obtained.

The DGT's ruling

Income derived from the voluntary withdrawal of a member of a cooperative is classified as a capital gain or loss as it results in a change in the composition of the assets. The calculation is performed by subtracting the acquisition value of the share (including entry fees and reimbursed losses) from the amount received. This gain is included in the savings tax base. The Personal Income Tax Law does not provide for the reinvestment of this amount as a ground for exemption or reduction.

Book your free first meeting