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V0515-16 9 February 2016 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · pérdidas patrimoniales

One-year period applies to avoid tax losses on the repurchase of securities not admitted to trading

A query was raised regarding whether a two-month or a one-year period applies to US market shares to avoid the recognition of capital losses. The Directorate General for Taxes (DGT) has determined that the one-year period applies.

The question raised

Whether the period of 2 months or the period of 1 year, before or after the transfer, would be applicable for the purposes of the provisions of letters f) and g) of paragraph 5 of Article 33 of Law 35/2006.

The DGT's ruling

As these are shares listed on a United States market, Article 33.5 letter g) of the Personal Income Tax Law (LIRPF) applies. The period to prevent the repurchase of homogeneous securities is one year before or after the transfer. The objective is to prevent the loss from being offset if the assets remain constant through the acquisition of similar elements.

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