Doctrine by topic · DGT Observatory

Delivery of Shares: 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 17 rulings · 2014–2025

Current position

The delivery of shares constitutes employment income in kind, valued at its market value. To apply the exemption of up to 12,000 euros per year (or 50,000 euros in startups), the offer must be made under the same conditions for all employees of the company. Furthermore, it is required to hold the shares for at least three years from their delivery.

The DGT's position remains constant regarding the requirement of equal conditions for the entire group to access the exemption. Throughout the rulings, the criteria for valuation at market value and the obligation to hold the shares for three years have been specified. No fundamental changes are observed, but rather an accumulation of technical requirements.

Turning points

  1. V3291-15

    Clarifies that the requirement of equal conditions must be met within the individual company to which the employee provides services, even within corporate groups.

  2. V0667-24

    Incorporates the increased exemption limit of 50,000 euros for startups and the necessity to hold the shares for three years.

Analysis based on 15 of 17 rulings with a stated position. Updated 25 September 2026.

Rulings on this topic

17
V0302-25 17 Mar 2025

Three-year period for exempt shares starts from date of delivery

SG de Impuestos sobre la Renta de las Personas Físicas
rendimientos en especieexenciónentrega de accionesmantenimiento de títulosempresa emergente LIRPF — Ley 35/2006 del IRPF art. 17.1LIRPF — Ley 35/2006 del IRPF art. 42.1
Affects CompanyExpat · Non-residentIndividual
V2785-16 21 Jun 2016

Share awards are taxed as employment income in the year of delivery

SG de Impuestos sobre la Renta de las Personas Físicas
rendimientos del trabajo en especieentrega de accionesperíodo de generaciónreducción del 30 por cientoimputación temporal LIRPF — Ley 35/2006 del IRPF art. 17.1LIRPF — Ley 35/2006 del IRPF art. 17.2.e)
Affects CompanyExpat · Non-residentIndividual
V2317-15 23 Jul 2015

30% reduction not applicable without two-year generation period

SG de Impuestos sobre la Renta de las Personas Físicas
reducción del 30%periodo de generaciónrendimientos del trabajoentrega de accionesimputación en un único periodo impositivo LIRPF — Ley 35/2006 del IRPF art. 17.2.aLIRPF — Ley 35/2006 del IRPF art. 18.2
Affects CompanyExpat · Non-residentIndividual

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