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V1903-21 18 June 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · rendimientos del capital inmobiliario

The 3% depreciation on the higher of the acquisition cost or the current cadastral value may be deducted

A query is made regarding which depreciation expense is deductible in the lease of a property acquired for consideration and which cadastral value should be applied. The DGT responds that the annual depreciation is calculated on the higher of the two values and that the cadastral value must be the one in force in each year.

The question raised

Question posed In the case of the lease of a property acquired for consideration, which expense may be deducted as depreciation, and for the purposes of its calculation, whether the cadastral value to be considered is that of the time of acquisition of the property or the one corresponding to each tax period.

The DGT's ruling

For income from real estate capital, the deductible depreciation may not exceed 3 percent of the higher of the acquisition cost paid or the cadastral value (excluding land). The cadastral value to be applied is the one in force on the tax accrual date of each year. The limit for accumulated depreciation shall be the acquisition value of the property, excluding the land value.

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