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V0412-21 26 February 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Transfer of shares may generate capital gains or losses for Personal Income Tax (IRPF) purposes

A taxpayer inquired whether they must pay tax on the sale of shares received following a contribution of assets from their business. The Directorate General for Taxes (DGT) ruled that the sale generates a capital gain or loss and that, as the special regime for contributions was applied, the shares retain the acquisition values and dates of the contributed assets.

The question raised

Whether taxation is due under Personal Income Tax for the transfer of the aforementioned shares.

The DGT's ruling

The sale of shares generates a capital gain or loss based on the difference between the acquisition value and the transfer value. The transfer value shall be the actual amount paid, provided it is proven to be the market value; otherwise, it shall be the higher of the net equity or the capitalization value. As the special regime for contributions of assets has been applied, the shares retain the acquisition values and dates of the contributed assets for the calculation of the gain or loss.

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