Impossibility of deducting losses from investment platform scams

The Directorate General of Taxes (DGT) has issued a relevant criterion for taxpayers who have suffered economic losses due to investments in platforms that turn out to be scams. The central issue lies in determining whether this event allows for the imputation of a capital loss in the IRPF tax return.

What the DGT has ruled

The administration has ruled that a debtor's failure to pay does not automatically generate a deductible capital loss. The reason is that as long as the credit right exists, the technical loss required by tax regulations does not occur. For a credit right to become a capital loss, it must be proven to be judicially uncollectible.

According to the DGT's interpretation, this requires the existence of final rulings in insolvency proceedings or in forced execution processes that demonstrate the real impossibility of collection. In the case analyzed, the credit right did not meet the necessary temporal imputation circumstances to be considered a loss in the 2024 tax year.

What it means for you

If you have lost capital in an investment platform that has turned out to be a fraud, you cannot declare that loss immediately in your income tax return based solely on the disappearance of the platform or the non-payment. The regulations require that the credit right be formally extinguished through judicial mechanisms that certify insolvency or the impossibility of recovering the money.

This criterion directly affects individuals seeking to reduce their IRPF taxable base through the compensation of capital losses derived from non-payments or scams.

What you should do

In a situation of this type, it is necessary to evaluate the legal status of the credit right held against the entity or platform. It is fundamental to have documentation proving that collection methods have been exhausted and that there are judicial rulings confirming the uncollectibility of the asset. It is recommended to assess each particular situation to determine whether the requirements of the IRPF Law and the applicable insolvency laws are met.