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V1123-22 19 May 2022 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancias y pérdidas patrimoniales

Selling gold as an individual generates capital gains or losses

A query was made regarding the taxation under Personal Income Tax (IRPF) for the sale of gold by an individual. The Directorate General for Taxes (DGT) responds that, provided it is not a commercial activity, the difference between the acquisition value and the transfer value constitutes a capital gain or loss.

The question raised

Taxation under Personal Income Tax (IRPF).

The DGT's ruling

If the sale of gold does not form part of a commercial buying and selling activity, it is considered a capital gain or loss. The amount is determined by the difference between the acquisition value and the transfer value. The acquisition value includes the actual amount plus inherent expenses, investments, and taxes, reduced by depreciation. The transfer value is the actual amount of the disposal, deducting the expenses and taxes paid by the transferor.

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