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V2265-24 23 October 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Reduction coefficients may apply to the transfer of shares acquired before 1994

A taxpayer has enquired whether seniority-based reductions can be applied to the sale of shares in a company that converted from a cooperative to a limited company. The DGT explains how to calculate the acquisition value following capital increases and confirms the applicability of the transitional regime.

The question raised

Whether the reduction coefficients provided for in the ninth transitional provision of the Personal Income Tax Law may be applicable.

The DGT's ruling

In fully paid-up capital increases, the acquisition value is the total cost divided by the number of old shares and the newly issued shares, while maintaining the seniority of the original shares. The transformation of a cooperative into a limited liability company does not alter the legal personality or the acquisition date. The reduction coefficients of the ninth transitional provision of the Personal Income Tax Law (LIRPF) are applicable if the shares were acquired before December 31, 1994, subject to the established transfer value limits.

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