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V1385-22 14 June 2022 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · condonación de préstamo

Forgiveness of a loan between two companies has no impact on the personal income tax of their common shareholders

A shareholder has enquired whether the forgiveness of a loan between two companies in which they hold shares affects their personal income tax (IRPF). The Directorate General for Taxes (DGT) has ruled that, as a general rule, this transaction does not affect the shareholders' tax as they are not parties to the loan.

The question raised

Effects on the Personal Income Tax of the taxpayer resulting from the forgiveness of the loan.

The DGT's ruling

The forgiveness of a loan between two companies does not have effects on the Personal Income Tax of the individual shareholders, as they are external to the loan. Rule 18 of the registration and valuation standards of the General Accounting Plan, which would imply a higher acquisition value and dividend income, does not apply. However, this criterion would not apply if the forgiveness were part of a complex operation or an instrument for the transfer of assets between shareholders.

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