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V3794-15 1 December 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · deducibilidad

Losses from disposal of holdings are deductible if transferred to third parties outside the group

The inquiry concerns the deductibility of losses arising from the disposal of shareholdings and credits during a dissolution process. The DGT rules that the loss from the disposal of the holding is deductible when transferred to partners outside the group and that the capitalisation of a credit does not generate income.

The question raised

Question raised 1) Whether there is any limitation on the deductibility in Corporate Income Tax of C regarding the definitive accounting loss that will arise as a consequence of the accounting derecognition of its holding in B for its delivery to individual shareholders as a consequence of the dissolution of the company.

The DGT's ruling

The loss resulting from the derecognition of a holding is tax deductible in the period in which it is transferred or derecognized, pursuant to Article 20 of the LIS. The temporal imputation of Article 11.10 does not apply if the assets are transferred to third parties outside the group, such as individual shareholders. Furthermore, the capitalization of a credit through a capital increase is valued at the amount of the debt, without generating income for the debtor entity.

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