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V0847-21 12 April 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · opción de compra

Call option premium taxed as general income in the year of execution

A query was raised regarding whether the premium paid for a call option contract on a plot of land should be declared as a capital gain for Personal Income Tax (IRPF) purposes. The Directorate General for Taxes (DGT) ruled that the granting of the option generates a capital gain that must be taxed as general income in the tax year it is formalised.

The question raised

Whether the amount of the premium must be declared in 2020 as a capital gain in the Personal Income Tax.

The DGT's ruling

The formalization of the call option generates a capital gain by altering the composition of the grantor's assets. This gain arises at the moment of granting and, as it does not derive from a transfer, it is classified as general income. The amount shall be the value paid (provided it is not lower than the market value) minus the inherent expenses and taxes. The premium received shall constitute a lower transfer value for the subsequent sale of the real estate.

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