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V1759-19 10 July 2019 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Sale of a gold bullion generates a capital gain or loss subject to Personal Income Tax

A taxpayer has enquired about the taxation of the sale of a gold bullion. The Directorate General for Taxes (DGT) responds that, provided it is not part of an economic activity, the transaction generates a capital gain or loss included in the savings tax base.

The question raised

Taxation under Personal Income Tax regarding said sale.

The DGT's ruling

The transfer of the bullion generates a capital gain or loss as a variation in the value of the assets occurs. The result is calculated by subtracting the acquisition value (actual amount plus inherent expenses and taxes) from the transfer value (actual amount minus inherent expenses and taxes). This amount shall be included in the savings tax base.

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