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V2953-14 3 November 2014 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos del capital mobiliario

Negative capital gains determined when total payments received are known

A taxpayer asks how to classify and when to recognise a loss from bond investments in a bankrupt entity. The DGT responds that capital gains are calculated as the difference between total payments received and acquisition value, and the loss is recognised upon completion of credit liquidation.

The question raised

Classification in Personal Income Tax of the negative difference arising in relation to the investment made and the temporal imputation thereof.

The DGT's ruling

The return on movable capital is determined by the difference between the total payments received through the insolvency proceedings and the acquisition value. The negative return cannot be quantified until the liquidation phase of the issuer's claims is completed and the total amount of payments is known. This negative return shall be included in the savings tax base for offsetting purposes.

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