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A taxpayer requested clarification regarding the taxation of the non-compensatory redemption of shares and subordinated bonds held in a credit institution. The DGT has ruled that the redemption of all shares constitutes a capital loss, while the redemption of the bonds is classified as negative income from movable capital.
Question posed: Taxation of the write-off of shares and subordinated bonds.
When all shares of a company are written off, the acquisition value is considered a capital loss that is included in the savings tax base. Regarding subordinated bonds, their write-off generates a negative return on movable capital based on the difference between their acquisition value and the write-off value (zero euros). Both concepts are integrated and offset within the savings tax base in accordance with the limits established by law.
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