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A taxpayer has requested clarification regarding the taxation of a capital reduction involving the repayment of contributions, which includes share capital and undistributed profit reserves. The Directorate General for Taxes (DGT) clarifies that the tax treatment depends on whether the amount originates from undistributed profits.
Cuestión planteada Tributación de la operación a efectos del IRPF.
La devolución de aportaciones que no proceda de beneficios no distribuidos reduce el valor de adquisición de las participaciones hasta su anulación; si hay exceso, tributa como rendimiento del capital mobiliario sin derecho a exención. Por el contrario, la parte de la devolución que corresponda a beneficios no distribuidos tributa íntegramente como rendimiento del capital mobiliario, está sujeta a retención y tiene derecho a la exención de los 1.500 euros anuales.
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