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Share 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 37 rulings · 2014–2026

Current position

For the maintenance of equity (art. 25.2 LIS), shareholder contributions and capital increases through treasury share transactions are not taken into account. Therefore, the disposal of share capital or share premium items is not included in the calculation of said increase. In scrip dividend operations charged to the share premium, the amount is treated as a capital reduction that reduces the tax value of the holding.

The DGT's position remains constant regarding the nature of the share premium as part of equity and its treatment in corporate operations. Its treatment in scrip dividends has been specified as a capital reduction, and its exclusion from the calculation of equity maintenance under the LIS has been clarified. No doctrinal shifts are observed, but rather a technical application of the current regulations.

Turning points

  1. V2469-20

    Establishes that if the scrip dividend is carried out by charging the share premium, the amount is treated as a capital reduction, reducing the tax value of the holding.

  2. V0422-26

    Determines that the disposal of the share premium must not be counted for the maintenance of equity, as contributions are not included in the initial calculation of art. 25.2 LIS.

Analysis based on 33 of 37 rulings with a stated position. Updated 23 September 2026.

Rulings on this topic

24
V0655-26 23 Mar 2026

Dividend payout against issuance premium does not affect capitalisation reserve

SG de Impuestos sobre las Personas Jurídicas
reserva de capitalizaciónfondos propiosprima de emisiónconsolidación fiscalaportaciones de socios LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 25LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 56.1
Affects CompanyExpat · Non-residentIndividual
V0422-26 26 Feb 2026

Societal contributions and share transactions do not count as equity

SG de Impuestos sobre las Personas Jurídicas
reserva de capitalizaciónfondos propiosconsolidación fiscalreducción de capitalprima de emisión LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11.12
Affects CompanyExpat · Non-residentIndividual
V2468-20 20 Jul 2020

Script dividends are classified as dividends regardless of the option chosen

SG de Impuestos sobre las Personas Jurídicas
scrip dividendderechos de asignación gratuitaacciones liberadasprima de emisiónretención LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 7LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3
Affects CompanyExpat · Non-residentIndividual
V2712-16 15 Jun 2016

No income recognised from debt capitalisation via share premium capital increase

SG de Impuestos sobre las Personas Jurídicas
capitalización de créditosprima de emisiónaportación no dinerariacanje de valoresrégimen especial 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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