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V1522-22 27 June 2022 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Delisting of a company does not automatically trigger a capital loss for Personal Income Tax purposes

A shareholder inquired whether the delisting of their shares due to insolvency proceedings allows for the declaration of a capital loss. The Spanish Tax Agency (DGT) ruled that the actual dissolution and liquidation of the company must take place.

The question raised

When a capital loss could be reflected in the Personal Income Tax (IRPF).

The DGT's ruling

A capital loss is not automatically incurred by the mere fact of ceasing to trade on a secondary market. To calculate it pursuant to Article 37.1, e) of the Personal Income Tax Law (LIRPF), the dissolution and liquidation of the company must first take place. The tax period shall be that in which the liquidation occurs, the moment at which the change in assets is deemed to have taken place. The result shall be included in the savings tax base.

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