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V3076-23 24 November 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · pérdida patrimonial

Delisting of a company does not automatically trigger a capital loss for Personal Income Tax purposes

The taxpayer asks whether the delisting of a company's shares allows for the recognition of a capital loss. The Directorate General for Taxes (DGT) responds that the dissolution and liquidation of the company must occur for such a loss to exist.

The question raised

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

The DGT's ruling

The loss of market value in a secondary market does not automatically entail a capital loss for the shareholders. To calculate a 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 the circumstance must be substantiated through the means of proof admitted by law.

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