Skip to content
Back to index
V2313-19 6 September 2019 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos de capital mobiliario

Losses from bond undervaluation cannot be recognised without transfer or redemption

The taxpayer asks whether they can claim a loss for Personal Income Tax (IRPF) purposes because the current value of their bonds is very low. The Directorate General for Taxes (DGT) rules that this is not possible as no event of transfer, redemption, write-off, or exchange has occurred.

The question raised

Possibility of computing a loss in the Personal Income Tax.

The DGT's ruling

To compute a negative income in the transfer, redemption, amortization, exchange, or conversion of securities, such an operation must have occurred. As none of these circumstances have taken place in the bonds consulted, the loss cannot be computed based solely on the undervaluation of their current value.

Book your free first meeting