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V2239-18 26 July 2018 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Delisting of a company does not automatically trigger a capital loss

A taxpayer inquired whether a company's delisting and subsequent liquidation allow for the recognition of a capital loss for Personal Income Tax (IRPF) purposes. The Directorate General of Taxes (DGT) ruled that delisting does not automatically generate a loss; instead, the actual dissolution and liquidation of the company are required.

The question raised

Whether a capital gain or loss may be reported in the Personal Income Tax.

The DGT's ruling

To compute a capital gain or loss upon dissolution, the liquidation of the company must first be carried out. The tax period shall be that in which said liquidation occurs. Alternatively, the sale of shares prior to liquidation will also generate a capital gain or loss based on the difference between the acquisition and transfer values.

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