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V0297-24 5 March 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Capital losses from worthless shares require company dissolution and liquidation or sale

A taxpayer inquired whether a capital loss could be reported for Personal Income Tax (IRPF) purposes due to holding shares in a company that are worthless and lack a market. The Directorate General of Taxes (DGT) ruled that a lack of listing or difficulty in selling does not automatically trigger a loss; instead, the liquidation of the company is required.

The question raised

Whether it would be possible to reflect a capital loss in the Personal Income Tax (IRPF).

The DGT's ruling

To compute a capital loss due to the dissolution of companies, the dissolution and liquidation of the company must first take place, with the tax period of the liquidation being the one that determines the change in assets. Alternatively, the sale of shares prior to liquidation will generate a gain or loss based on the difference between the acquisition value and the transfer value.

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