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V0881-19 24 April 2019 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · cuentas en participación

Sale of a credit to a specialised company generates a capital gain or loss in the savings tax base

The taxpayer inquired about the taxation of the sale of a credit arising from contracts intended to be joint venture agreements (cuentas en participación). The DGT ruled that, as the return of the sum was guaranteed, the contract is classified as a loan, and the sale of the credit constitutes a capital gain or loss.

The question raised

Taxation of the sale of the credit to a credit purchase company.

The DGT's ruling

The transfer of ownership of a credit right to a third party for a price lower than the amount owed constitutes a change in assets. The gain or loss is calculated as the difference between the transfer value (actual amount satisfied) and the acquisition value (amount owed). This result is included in the savings tax base pursuant to Article 46 of the Personal Income Tax Law.

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