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V0885-21 14 April 2021 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · contratos por diferencias

Income from Contracts for Difference (CFDs) taxed as capital gains or losses in the savings tax base

The inquirer asks how profits or losses obtained through CFD trading are taxed. The DGT rules that, as they do not constitute a transfer of own funds, these results are classified as capital gains or losses.

The question raised

Taxation of income obtained from the execution of CFD transactions.

The DGT's ruling

The results from CFDs are classified as capital gains or losses within the savings tax base. The gain or loss shall be determined by the difference in the values of the underlying asset between the opening and the closing, including commissions and dividend adjustments. Interest for the maintenance of positions is not computable as it constitutes financing expenses. If daily settlements exist, the change in wealth is imputed daily according to the values of the underlying asset.

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