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V2864-23 25 October 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · valor de adquisición

The cost and completion date of the works must be substantiated to determine the acquisition value

A taxpayer inquires how to calculate the acquisition value of a property consisting of land acquired in 1991 and a dwelling constructed in 2008 without cost documentation. The DGT explains that the acquisition value is the sum of the land and the works, but the cost and completion date of these must be substantiated by the taxpayer.

The question raised

Question posed: What will be the acquisition value of the property for the purposes of calculating the capital gain in the Personal Income Tax.

The DGT's ruling

In the direct execution of works, the acquisition value is the sum of the amount of the land and that of the works, plus inherent expenses and taxes. The cost of the works and their completion date must be substantiated by the taxpayer through any valid means of proof. If the completion date cannot be substantiated, the date of the deed of declaration of new construction shall be used. The land and the building have different acquisition dates.

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