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V1907-17 18 July 2017 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · rendimiento del trabajo

The tax treatment of the sale of shares depends on whether the purchase and sale transaction is considered a single operation

The tax treatment of the sale of shares following the exercise of call and put options by executives is consulted. The DGT indicates that, if the operation is considered a single operation, the difference between the settled value and the price paid would be employment income.

The question raised

Question posed: Tax treatment of the sale, in 2016, of the shares of the German entity as a consequence of the exercise by the Swiss entity of its call option on the same to the two participants of the Spanish plan.

The DGT's ruling

If the call and put option operation is considered a single operation, the difference between the amount settled by the entity and the amount paid by the employees is classified as employment income. This income could benefit from the reduction provided in Article 18.2 of the LIRPF if the requirements are met. Determining whether the operation is a single operation is a question of fact that falls under the jurisdiction of the Inspection.

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