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V1126-15 13 April 2015 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Sale of shares upon execution of a guarantee creates capital gain or loss in personal income tax

A taxpayer inquired about the tax consequences of transferring shares to settle debts of guaranteed companies. The DGT explains how to calculate the capital gain or loss from the sale of shares and when a loss can be recognised upon payment of the guarantee.

The question raised

Tax consequences in the taxpayer's Personal Income Tax.

The DGT's ruling

The transfer of shares in an enforcement proceeding produces a change in net worth calculated by the difference between the acquisition value and the transfer value. The guarantor's obligation to pay constitutes a capital loss only when all legal possibilities of passing the payment on to the debtor company have been exhausted. If the companies are in insolvency proceedings, losses from overdue credits may be imputed starting from 2015 according to the new conditions of the Personal Income Tax Law.

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