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V1254-22 6 June 2022 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · reducción de capital

Acquisition value of shares remains unchanged if return of contributions was taxed as income from movable capital

A shareholder inquired whether the acquisition value of their shares had been modified following a capital reduction involving a return of contributions that was taxed entirely as income from movable capital. The DGT ruled that, provided no subsequent dividends have been received, the acquisition value remains unchanged for the purpose of calculating future capital gains upon disposal.

The question raised

Acquisition value of social shares for the purposes of calculating capital gains or losses in Personal Income Tax.

The DGT's ruling

If the capital reduction with return of contributions was taxed as income from movable capital due to the existence of a positive difference between equity and the acquisition value, the acquisition value of the shares is not reduced. This value shall be maintained to calculate the capital gain or loss in a future transfer, provided that no dividends or shares in profits of the same entity have been obtained on those shares subsequent to the reduction.

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