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A query was raised regarding whether a company's distribution of reserves could reduce the acquisition value of shares for future sales. The Directorate General for Taxes (DGT) ruled that the acquisition value is not diminished by received reserves and that the sale of shares and the collection of dividends are distinct taxable events.
Cuestión planteada Si puede considerarse exento en el Impuesto sobre la Renta de las Personas Físicas el reparto de reservas, disminuyendo de forma correlativa, a efectos de futuras transmisiones, el valor de adquisición de las participaciones en el importe de las reservas distribuidas, al considerar que en el pago realizado al tercero ya se incluían dichas reservas y que éstas estarían incluidas en la ganancia patrimonial obtenida por el tercero al vender las participaciones a la consultante.
El reparto de reservas constituye un rendimiento íntegro del capital mobiliario según el artículo 25.1.a) de la Ley 35/2006. La ganancia o pérdida patrimonial por la futura venta de las participaciones se calcula por la diferencia entre el valor de transmisión y el de adquisición, sin que la normativa prevea que este último se disminuya por el importe de las reservas percibidas con posterioridad. Además, la percepción de dividendos y la venta de acciones responden a hechos imponibles diferentes.
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