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V3035-21 7 December 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Acquisition value of inherited shares shall be the value declared or verified in Inheritance Tax

A shareholder has enquired about the value to be used when calculating capital gains or losses following the liquidation of a company whose shares were inherited. The DGT has ruled that the value declared or verified in the Inheritance and Gift Tax must be used.

The question raised

Acquisition value of the shares for the purpose of calculating the capital gain or loss to be declared in the Personal Income Tax (IRPF) as a consequence of the dissolution and liquidation of the company.

The DGT's ruling

In the dissolution of companies, the capital gain or loss is the difference between the market value of the assets received and the acquisition value of the shareholding. If the acquisition was by inheritance, the acquisition value is the declared value or the verified value for Inheritance and Gift Tax purposes, plus the expenses and taxes inherent to the acquisition. If a verification of values resulted in a value higher than the declared one, said verified value must be applied.

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