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V3345-19 5 December 2019 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · valor real

The value of social shares for Inheritance Tax must be their fair value at the date of accrual

A query is made as to whether the valuation of social shares performed by a bankruptcy administrator in a liquidation constitutes the market value for Inheritance Tax purposes. The DGT responds that the fair value of the assets must be declared at the date of accrual and that the determination of said value is the responsibility of the taxpayer.

The question raised

Question posed: Whether the valuation of the social shares carried out by the bankruptcy administrator, during the liquidation phase of the insolvency proceedings, is the value to be used for Inheritance Tax purposes on the grounds that it is considered its market value.

The DGT's ruling

The tax base is the fair value of the assets and rights, reduced by deductible charges and debts. In mortis causa acquisitions, the fair value of the shares referred to the date of accrual of the tax must be declared. The determination of the value must be carried out by the taxpayer, who must state in their tax return the fair value they attribute to the assets.

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