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V1680-24 10 July 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Transfer value of shares must not be lower than book or capitalisation value, unless market value is proven

A query was raised regarding the calculation of capital gains when shares are sold for an amount lower than their book value. The DGT ruled that the transfer value shall be the actual amount, provided that market value is proven; otherwise, the higher of the net equity or capitalisation value shall apply.

The question raised

Method of calculating capital gains in Personal Income Tax.

The DGT's ruling

For the transfer of securities not admitted to trading, the transfer value shall be the amount actually paid if it is proven to be the amount that independent parties would have agreed upon under normal market conditions. If such market value is not proven, the transfer value may not be less than the higher of the net equity value of the last closed financial year or the result of capitalizing the average of the results of the three previous financial years at 20%.

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