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V2537-18 18 September 2018 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Sale of shares in an unlisted company generates capital gains or losses

The taxpayer seeks clarification on the tax treatment regarding the sale of shares in an unlisted company. The DGT explains that the gain or loss is determined by the difference between the acquisition value and the transfer value, subject to specific valuation rules.

The question raised

Tax treatment of said sale in the Personal Income Tax.

The DGT's ruling

The transfer value shall be the actual amount effectively paid, provided that it is proven to correspond to the market value agreed upon by independent parties. If such value is not proven, the transfer value may not be less than the higher of the net equity of the last closed fiscal year or the result of capitalizing the average profits of the three previous fiscal years at 20%. The resulting difference shall be included in the savings tax base.

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