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V1116-23 4 May 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · disolución de sociedades

Capital gains or losses in liquidation must be calculated based on the market value of the assets received

A taxpayer queried how a father and his children are taxed during the dissolution of a company involving bare ownership and usufruct. The Directorate General for Taxes (DGT) ruled that capital gains or losses are determined by the difference between the market value of the assets received and the acquisition value of the corresponding share or right.

The question raised

Tax consequences in the Personal Income Tax of the father and his two children resulting from the dissolution and liquidation of the company.

The DGT's ruling

Dissolution and liquidation generate capital gains or losses based on the difference between the market value of the assets and rights received and the acquisition value of the share or right. The full owner calculates the difference using the value of their shares; the usufructuary using the value of their usufruct; and the bare owners using the value of their bare ownership. These amounts are included in the savings tax base.

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