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V1138-20 29 April 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · nuda propiedad

Determination of the acquisition value of shares received through the donation of bare ownership

A taxpayer inquired how to calculate the acquisition value of shares received through the donation of bare ownership, which were consolidated upon the death of the usufructuary. The DGT responds that the acquisition value is that resulting from the application of the Inheritance and Gift Tax rules at the time of the donation.

The question raised

Question posed For the purposes of calculating the capital gain or loss generated in the transfer, the acquisition value of the aforementioned shares.

The DGT's ruling

For shares acquired for consideration, the acquisition value is determined by applying the Inheritance and Gift Tax rules, not exceeding the market value. This value must be added to the expenses and taxes inherent to the acquisition paid by the acquirer. The date of acquisition is the date of acceptance of the donation. The extinction of the usufruct due to the death of the usufructuary does not constitute a new acquisition, but rather the recovery of the rights of enjoyment by the owner.

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