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The taxpayer inquires about the tax treatment of converting subordinated bonds into shares and the impact of a potential arbitral award. The DGT rules that if the award is unsuccessful, a return on movable capital is generated from the repurchase, alongside a capital gain or loss on the shares. If the award is successful, a return on movable capital is generated based on the difference between the amount to be repaid and the original subscription value.
Cuestión planteada Tratamiento fiscal de estas operaciones en el Impuesto sobre la Renta de las Personas Físicas.
Si el laudo es desestimatorio, la recompra genera un rendimiento del capital mobiliario (diferencia entre precio de recompra y valor de adquisición) y la posterior transmisión de acciones genera una ganancia o pérdida patrimonial. Si el laudo es estimatorio, no tienen efectos tributarios la recompra ni la suscripción de acciones, sino que se genera un rendimiento del capital mobiliario por la diferencia entre la cantidad máxima a restituir fijada en el laudo y el valor de suscripción de las obligaciones subordinadas. En este último caso, las acciones recibidas se consideran adquiridas en la fecha de firma del convenio arbitral.
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