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V3368-19 11 December 2019 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Transfer value of shares in unlisted companies may be the actual amount if market value is proven

A taxpayer inquires about the tax treatment of selling shares in an unlisted company to their brother. The DGT explains how to calculate capital gains or losses and the applicable valuation rules.

The question raised

Tax treatment of said sale in the Personal Income Tax.

The DGT's ruling

The capital gain or loss is determined by the difference between the acquisition value and the transfer value. The transfer value shall be the actual amount paid, provided that it is proven to be at normal market conditions. If not proven, the transfer value shall be the higher of the net equity of the last closed fiscal year or the result of capitalizing the average of the three previous fiscal years at 20%. If the company is a holding company, the specific rules of the tenth transitional provision of the Corporate Income Tax Law shall apply.

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