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Creditors' Agreement: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Settled doctrine High confidence 9 rulings · 2014–2024

Current position

The income from the extinction of debt through a bankruptcy agreement is included in the tax base via a positive adjustment in the fiscal year of judicial approval. Subsequently, this income is imputed as financial expenses derived from the same debt are recorded until its limit is reached. If the income exceeds the pending financial expenses, the imputation is carried out proportionally to the expenses recorded in each period.

The DGT's position remains constant regarding the method for imputing income from debt forgiveness. Since 2015, the administration has established that income must be imputed as financial expenses derived from the debt are recorded, using a proportional imputation system if the income exceeds the pending expenses. The 2024 ruling reaffirms this mechanism of adjustment and temporal distribution.

Turning points

  1. V2932-15

    Establishes that the method of imputation according to financial expenses is not an optional system, but that the accounting result must be mandatorily corrected through this rule.

Analysis based on 7 of 9 rulings with a stated position. Updated 29 September 2026.

Rulings on this topic

9
V2351-24 14 Nov 2024

Income from debt write-offs in insolvency agreements is taxed via a positive adjustment and subsequent integration based on financial expense records

SG de Impuestos sobre las Personas Jurídicas
quitas y esperasconvenio de acreedoresgastos financierosprincipio de empresa en funcionamientomodificación sustancial LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11.13
Affects CompanyExpat · Non-residentIndividual
V1226-22 31 May 2022

Loss can be recognised when concursal agreement becomes effective

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialderecho de créditoquitaconvenio de acreedoresprocedimiento concursal LIRPF — Ley 35/2006 del IRPF art. 14.2.kLIRPF — Ley 35/2006 del IRPF art. 33.1
Affects CompanyExpat · Non-residentIndividual
V1625-15 26 May 2015

Imputation of income for delays and waits required by financial expense records

SG de Impuestos sobre las Personas Jurídicas
quitas y esperasimputación temporalconvenio de acreedoresgastos financierosbase imponible TRLIS — RDLeg 4/2004 (derogado por la Ley 27/2014) art. 10.3TRLIS — RDLeg 4/2004 (derogado por la Ley 27/2014) art. 12.2
Affects CompanyExpat · Non-residentIndividual

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