Doctrine by topic · DGT Observatory

Assumption Premium: 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 12 rulings · 2014–2026

Current position

The distribution of the assumption premium is assimilated into a capital reduction with the return of contributions. To calculate returns on movable capital, equity may only be reduced by previously distributed profits and legally unavailable reserves generated after the acquisition. It is not permitted to reduce equity by the value difference derived from special regimes for non-monetary contributions.

The DGT's position remains constant regarding the nature of the operation, treating it as a capital reduction. The evolution focuses on technical precision regarding which concepts may reduce equity for the calculation of income. The most recent rulings strictly delimit the permitted elements to prevent reduction by value differences of non-monetary contributions.

Turning points

  1. V2435-15

    Establishes that the distribution of the assumption premium is fiscally assimilated into a capital reduction with the return of contributions.

  2. V0024-26

    Specifies that to determine equity, only previously distributed profits and legally unavailable reserves may be excluded, prohibiting reduction by value differences of non-monetary contributions.

Analysis based on 12 of 12 rulings with a stated position. Updated 27 September 2026.

Rulings on this topic

12
V0037-26 12 Jan 2026

Cannot reduce capital reserves by the tax difference from non-cash contributions

SG de Impuestos sobre la Renta de las Personas Físicas
prima de asunciónfondos propiosrendimiento del capital mobiliarioaportaciones no dinerariasvalor de adquisición LIRPF — Ley 35/2006 del IRPF art. 25.1.eLIRPF — Ley 35/2006 del IRPF art. 36
Affects CompanyExpat · Non-residentIndividual
V0024-26 9 Jan 2026

Minoration of capital not allowed under special contribution regime

SG de Impuestos sobre la Renta de las Personas Físicas
prima de asunciónfondos propiosvalor de adquisiciónaportaciones no dinerariasrendimiento del capital mobiliario LIRPF — Ley 35/2006 del IRPF art. 25.1.eLIRPF — Ley 35/2006 del IRPF art. 36
Affects CompanyExpat · Non-residentIndividual
V0447-20 26 Feb 2020

Dividends following an issue premium distribution may reduce the acquisition value

SG de Impuestos sobre la Renta de las Personas Físicas
prima de asunciónrendimientos de capital mobiliariovalor de adquisiciónfondos propiosreparto de beneficios LIRPF — Ley 35/2006 del IRPF art. 25.1.eRIRPF — RD 439/2007, Reglamento del IRPF art. 75.3.h
Affects CompanyExpat · Non-residentIndividual
V0264-17 1 Feb 2017

No income recognised in debtor company for capital increase via debt offset

SG de Impuestos sobre las Personas Jurídicas
compensación de créditosaumento de capitalprima de asunciónvalor mercantilentidad deudora LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.2
Affects CompanyExpat · Non-residentIndividual

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