Skip to content
Back to index
V2003-21 29 June 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · permuta de acciones

Treatment in IRPF and Wealth Tax of share sales with deferred payment and shares in guarantee

A taxpayer inquired about the IRPF and Wealth Tax treatment of share sales where part of the payment is received in shares of another entity subject to holding conditions. The DGT clarifies how to calculate the capital gain, when to attribute income from employment or economic activities, and how to declare rights in the Wealth Tax.

The question raised

Treatment in Wealth Tax of C shares obtained through the sale of shares and the early settlement of the stock option plan, specifically regarding C shares deposited in a deposit account on behalf of and for the account of the taxpayer, and treatment in Personal Income Tax of the sale of shares and the early settlement of the stock option plan.

The DGT's ruling

In the exchange of shares, the gain is determined by the difference between the acquisition value and the higher of the market values of the assets delivered plus the cash received. Since part of the price is contingent upon continued employment, the transfer value is indeterminate and must be estimated, allowing for subsequent regularization or proportional temporal imputation. In Wealth Tax, shares pledged as collateral must be included at their average trading value for the fourth quarter.

Book your free first meeting