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V5093-16 24 November 2016 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Transfer value of non-listed shares cannot be lower than the higher of two reference values

A taxpayer has requested clarification on how to calculate capital losses when selling shares in a company being liquidated that are no longer listed. The DGT explains that, as these are non-listed securities, the transfer value is subject to a legal minimum.

The question raised

Calculation of the capital loss that would be generated by the transfer of the shares.

The DGT's ruling

For shares not admitted to trading, the transfer value may not be lower than the higher of: the net equity value according to the last closed balance sheet, or the result of capitalizing the average of the results of the three previous fiscal years at 20%. This limit applies unless it is proven that the amount paid corresponds to normal market conditions. The difference between the acquisition value and this transfer value shall determine the capital gain or loss.

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