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V0378-22 25 February 2022 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · permuta

Vehicle swaps between individuals generate capital gains or losses for Income Tax purposes

A query was made regarding how to determine the capital result in a vehicle swap between private individuals. The DGT ruled that the higher of the market values of the swapped vehicles must be used as the transfer value.

The question raised

Determination within the Personal Income Tax framework of the capital gains or losses resulting from an exchange.

The DGT's ruling

The exchange constitutes a capital gain or loss pursuant to Article 33.1 of the Personal Income Tax Law. The amount is determined by the difference between the acquisition value of the asset transferred and the higher of the two market values (that of the asset delivered or that of the asset received). As these are consumer goods, the acquisition value to be considered shall be the market value at the time of the exchange.

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