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V3343-20 11 November 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · usufructo

Creation of a usufruct over shares is classified as income from movable capital

The taxpayer asks how the creation of a successive usufruct over their shares would be taxed under Personal Income Tax (IRPF). The DGT rules that such a creation constitutes income from movable capital.

The question raised

Taxation in Personal Income Tax (IRPF) regarding the creation of the aforementioned usufruct, whether through sale or donation.

The DGT's ruling

The creation of rights of use or enjoyment over interests in the equity of an entity is classified as income from movable capital. If the creation is made free of charge, it shall be presumed to be remunerated and must be valued at fair market value.

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