Restricting share delivery by job category prevents the €12,000 exemption

The Directorate General of Taxes (DGT) has clarified the scope of the tax exemption applied to the delivery of shares to workers. The central issue lies in whether a share delivery plan can benefit from the reduction provided for in the Personal Income Tax (IRPF) regulations when access is not universal within the company.

What the DGT has ruled

The ruling analyzes the application of the exemption established in Article 42.3 f) of the IRPF Law. According to the DGT's criteria, the delivery of shares constitutes a benefit in kind that must be valued at its market value. For this benefit to be exempt up to the limit of €12,000 per year, the offer must be made under the same conditions for all workers in the company.

In this case, the authority determines that if access to the share plan is restricted solely to employees who have reached a certain professional category, the equality requirement is broken. Since it is not a general offer for the entire workforce, the necessary condition to apply the exemption is not met.

What it means for you

This criterion has direct implications for both organizations and their employees:

• For companies: Remuneration policies that segment the delivery of shares based on specific professional categories invalidate the possibility of applying the €12,000 exemption in their incentive plans.
• For workers: Those employees who receive shares under professional category conditions must pay tax on said benefit as a benefit in kind, without being able to avail themselves of the aforementioned reduction.

What should be done

It is necessary to analyze the structure of the share delivery plans implemented in the company. If the objective is to take advantage of the €12,000 tax exemption, the plan design must ensure that the offer is made under equal conditions for the entire workforce. It is recommended to evaluate each remuneration policy design to ensure it complies with the requirements of Law 35/2006 and Law 28/2022.