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V1147-14 25 April 2014 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos del capital mobiliario

Amount paid upon bond subscription is included in the calculation of income from movable capital

A taxpayer requested clarification on the tax treatment of the premium paid when subscribing to State Bonds and Obligations. The DGT ruled that this amount is included in the acquisition value for calculating returns.

The question raised

Tax treatment in Personal Income Tax of the amount paid upon the subscription of such securities.

The DGT's ruling

Income from the redemption or transfer of securities is a return on movable capital obtained through the transfer of own capital. This return is calculated as the difference between the redemption or transfer value and its acquisition or subscription value. The actual amount paid upon subscription is included in said calculation. These returns are integrated into the savings tax base.

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