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V1648-17 26 June 2017 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · derecho de crédito

Selling a credit right for less than the amount owed results in a capital loss for Income Tax purposes

A taxpayer inquired whether selling a credit right to a specialised company for a price lower than the debt's value is subject to Personal Income Tax (IRPF). The Directorate General for Taxes (DGT) ruled that such a transfer constitutes a change in assets.

The question raised

Taxation of the transfer under Personal Income Tax (IRPF).

The DGT's ruling

The transfer of ownership of a credit right in exchange for a price lower than the amount owed constitutes an alteration in the composition of the assets. The capital gain or loss is determined by the difference between the transfer value (the actual amount satisfied, provided it is not lower than the market value) and the acquisition value (the amount owed).

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