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V1636-21 28 May 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Capital gains or losses may be attributed upon withdrawal from a cooperative

A cooperative member has enquired whether an amount contributed as non-refundable capital, which was not returned upon their withdrawal, can be declared as a capital loss for Personal Income Tax (IRPF) purposes. The Directorate General for Taxes (DGT) has ruled that the difference between the acquisition value and the amount received constitutes a capital gain or loss.

The question raised

Question posed: Whether the amount that has not been returned can be imputed as a capital loss in the Personal Income Tax.

The DGT's ruling

The withdrawal of a member from a cooperative generates a capital gain or loss as a variation in the composition of their assets occurs. The calculation is performed by subtracting the acquisition value of the share from the amount received by the member. To determine the acquisition value, the entry fees paid and the cooperative's losses attributed to the member that have been reimbursed or offset must be added to the cost of the contributions.

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