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V3369-14 23 December 2014 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · donación

Donation of a credit right does not generate a capital loss for the donor's Personal Income Tax

A taxpayer has enquired about the taxation of the donation of a credit right from an entity in insolvency proceedings to their children. The DGT clarifies that the donee must declare the real value of the assets and that the donor cannot claim a capital loss for Personal Income Tax purposes.

The question raised

Taxation of the donation in the Personal Income Tax and in the Inheritance and Gift Tax.

The DGT's ruling

The donee must declare as the tax base the real value of the assets and rights acquired, reduced by deductible charges and debts. For the donor, the donation is a lucrative transfer that does not count as a capital loss in the Personal Income Tax (IRPF) pursuant to Article 33.5 c) of the IRPF Law. In lucrative transfers, the acquisition and transfer values shall be determined by applying the rules of the Inheritance and Gift Tax, without exceeding the market value.

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