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V3460-20 30 November 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ampliación de capital totalmente liberada

Capital losses may be recognised on the sale of shares received in a fully paid-up bonus issue

A shareholder has enquired whether it is possible to recognise a capital loss when immediately selling shares received through a fully paid-up bonus issue. The DGT has ruled that this is permissible, provided the anti-avoidance rules regarding the purchase of homogeneous securities do not apply.

The question raised

If the shares received were immediately transferred at a capital loss, the possibility of computing said loss in the Personal Income Tax (IRPF).

The DGT's ruling

The acquisition value of shares received in a fully bonus issue is determined by dividing the total cost between the number of old shares and the bonus shares. The acquisition date of the new shares shall be the acquisition date of the shares from which they originate. For the loss to be deductible, the transfer must be definitive, such that no homogeneous securities have been acquired in the two months preceding or following the sale, unless the only prior operation was the aforementioned capital increase.

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