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V3322-19 4 December 2019 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

No capital gains or losses on donation of bare ownership or usufruct of shares if Art. 20.6 ISD Law requirements are met

The taxpayer asks whether the exemption from capital gains tax on the donation of shares applies when donating bare ownership while retaining usufruct. The DGT rules that the same treatment as the transfer of full ownership applies, provided the requirements of Article 20.6 of the Inheritance and Gift Tax Law are met.

The question raised

Whether the provisions of Article 33.3.c) of the Personal Income Tax Law are applicable to the donation.

The DGT's ruling

In the donation of bare ownership or usufruct of shares, the same tax treatment shall apply as in the transfer of full ownership. Therefore, no capital gain or loss shall be recognized for Personal Income Tax purposes provided that the requirements set forth in Article 20.6 of the Inheritance and Gift Tax Law are met. To this end, it is irrelevant whether the donee applies the reduction in their own tax return or the requirements of regional regulations.

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