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V2341-16 26 May 2016 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos del capital mobiliario

Capital losses cannot be quantified until the issuing company's liquidation is complete

A query was raised regarding whether it is possible to declare a loss for subordinated financial contributions from a company in insolvency proceedings that has not yet been liquidated. The DGT ruled that the loss can only be quantified once the liquidation phase is finished and the total amount of payments received is known.

The question raised

Possibility of imputing a capital loss in the Personal Income Tax corresponding to the 2015 fiscal year, even though the company has not yet been fully liquidated.

The DGT's ruling

The return on movable capital is determined by the difference between the total amount received upon liquidation and the acquisition value. As the entity is in the liquidation phase, it must be waited until this concludes to determine the total amount of payments and quantify the negative return. Said return shall be imputed to the tax period in which such quantification occurs.

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