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V3074-23 24 November 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Delisting of a company does not automatically trigger a capital loss for shareholders

A taxpayer inquired whether the delisting of a company undergoing insolvency proceedings allows for the declaration of a capital loss for Personal Income Tax (IRPF) purposes. The Directorate General of Taxes (DGT) ruled that the dissolution and liquidation of the company must occur for such a loss to be recognised.

The question raised

Whether it could reflect a capital loss for Personal Income Tax purposes.

The DGT's ruling

The exclusion from trading on an official secondary market does not automatically generate a capital loss for the shareholders. To calculate the loss pursuant to Article 37.1, e) of the Personal Income Tax Law (LIRPF), the dissolution and liquidation of the company must first take place. The tax period shall be that in which the liquidation occurs, and such circumstance must be substantiated with the means of proof admitted under law.

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