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V2133-25 11 November 2025 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · valores homogéneos

Absorbed company shares not considered homogeneous

The DGT responds that shares of the absorbed company and the absorbing company are not homogeneous as required by the Tax Regulation.

The question raised

Whether, for tax purposes, the shares of the absorbed company and those of the absorbing company can be considered homogeneous securities from the moment the merger is agreed upon in a general meeting and an exchange ratio is established.

The DGT's ruling

The shares of company A and company B are not considered homogeneous securities as they do not meet the requirements of Article 8 of the RIRPF. Therefore, the exception regarding the non-inclusion of capital losses provided for in Article 33.5 of the LIRPF does not apply.

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