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V1353-16 31 March 2016 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Repayment of initial investment in exchange for shares generates capital gains or losses

A retail shareholder receives the full amount of their initial investment in exchange for returning their shares to a financial institution. The DGT has determined that this transaction must be taxed as a capital gain or loss.

The question raised

Tax treatment in Personal Income Tax regarding the aforementioned transaction.

The DGT's ruling

The transaction falls within the scope of capital gains and losses pursuant to Article 33 of Law 35/2006. The amount of the capital gain or loss is calculated as the difference between the transfer value (the amounts received from the entity) and the acquisition value of the shares.

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