Doctrine by topic · DGT Observatory

Suspension of Share Trading: 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 8 rulings · 2015–2019

Current position

The suspension of share trading does not automatically generate a capital loss for shareholders. For such a loss to be computed pursuant to article 37.1, e) of the LIRPF (Personal Income Tax Law), the dissolution and liquidation of the company must occur. The tax period in which this result is to be integrated shall be the one in which the liquidation takes place, the moment at which the change in assets is considered to have occurred.

The DGT's position has remained constant since 2015. Initially, it focused on the lack of a change in assets due to the non-amortization or exclusion from trading, and subsequently, it has been specified that the loss is only computable following the dissolution and liquidation of the company.

Turning points

  1. V0478-16

    Establishes that for a loss to be computed in companies, the prior dissolution and liquidation of the same must occur.

Analysis based on 8 of 8 rulings with a stated position. Updated 1 October 2026.

Rulings on this topic

8
V3259-19 27 Nov 2019

Suspension of a company's trading cannot alone be considered a capital loss

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialdisolución de sociedadesliquidación de sociedadescuota de liquidaciónbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 37.1.e)
Affects CompanyExpat · Non-residentIndividual
V1085-19 21 May 2019

Suspension of a company's trading cannot alone be used to calculate a capital loss

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialdisolución de sociedadesliquidación de sociedadessuspensión de cotizaciónbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 37.1.e)
Affects CompanyExpat · Non-residentIndividual
V1674-16 19 Apr 2016

Suspension of a company's trading does not automatically trigger a capital loss

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialdisolución de sociedadesliquidación socialcuota de liquidaciónbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 37.1.e)
Affects CompanyExpat · Non-residentIndividual
V0478-16 8 Feb 2016

Capital losses cannot be declared solely due to the suspension of share trading

SG de Impuestos sobre la Renta de las Personas Físicas
ganancias o pérdidas patrimonialesdisolución de sociedadesliquidación de la sociedadvalor de adquisiciónbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 37.1, e)
Affects CompanyExpat · Non-residentIndividual

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