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V1119-14 21 April 2014 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancias y pérdidas patrimoniales

Payment under a guaranteed return clause does not reduce the transfer value of shares sold

A taxpayer made a payment in 2013 resulting from a guaranteed return clause in a 2007 sale. The Tax Agency has determined that this payment constitutes a capital loss occurring in 2013, rather than a reduction in the transfer value of the shares in company B.

The question raised

Question posed: Whether the amount paid by the taxpayer in 2013 can reduce the value corresponding to the transfer carried out in that year of the shares of company B acquired by virtue of the merger operation.

The DGT's ruling

The fulfillment of conditions that generate additional consideration following a sale and purchase is considered a change in assets that constitutes a capital gain or loss pursuant to Article 33 of Law 35/2006. This loss must be attributed to the tax period in which the payment obligation arises. As it derives from the transfer of shares, it is classified as savings income according to Article 46.b) of Law 35/2006, which prevents it from being considered as a reduction in the transfer value of the shares of company B.

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