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V1772-17 7 July 2017 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Proof of acquisition value and company liquidation required to calculate losses

The taxpayer asks how to tax the sale of listed shares without supporting documentation and the loss of value in shares of a bankrupt US company. The DGT states that the actual acquisition amount must be proven and that bankruptcy does not automatically trigger a loss without formal liquidation.

The question raised

Tax treatment of said operation in the Personal Income Tax.

The DGT's ruling

For listed shares, the gain or loss is the difference between the transfer value and the acquisition value, which the taxpayer must substantiate through admitted means of proof. Regarding the American company, bankruptcy does not automatically imply a capital loss; it is necessary for the dissolution and liquidation of the company to occur so that the loss may be computed pursuant to Article 37.1, e) of the Personal Income Tax Law.

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