Doctrine by topic · DGT Observatory

Market Value: 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

Stable position Medium confidence 126 rulings · 2025–2025

Current position

Market value is used as a comparison parameter to determine the existence of capital gains or losses in various transactions. In the absence of a cadastral reference value, the tax base shall be the highest among the declared value, the agreed price, or the market value. In cases of theft, the market value at the time of the theft serves to calculate the capital loss after reducing the acquisition price by depreciation.

The DGT does not present a doctrinal evolution regarding a single concept, but rather applies the concept of market value in a fragmented manner across different scenarios. The rulings analyze its use to determine the tax base in the absence of reference values, to calculate losses due to theft, or to value holdings in profit distribution processes.

Turning points

  1. V1347-25

    Establishes that to calculate the loss due to theft, the market value at the time of the theft must be sought after applying depreciation for use.

  2. V2436-25

    Determines that in the absence of a cadastral reference value, the tax base shall be the highest among the declared value, the agreed price, or the market value.

Analysis based on 109 of 126 rulings with a stated position. Updated 19 July 2026.

Rulings on this topic

24
V5678-26 30 Sept 2026

No prior reduction applicable to acquisition and transfer values of real estate

SG de Impuestos sobre la Renta de las Personas Físicas
ganancia patrimonialvalor de adquisiciónvalor de transmisióngastos inherentesbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 34.1.a)
Affects CompanyExpat · Non-residentIndividual
V5648-26 25 Sept 2026

Total demergers may qualify for tax neutrality if LIS requirements are met

SG de Impuestos sobre las Personas Jurídicas
escisión totalneutralidad fiscalreestructuración empresarialvalor de mercadoramas de actividad LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.4
Affects CompanyExpat · Non-residentIndividual
V5647-26 25 Sept 2026

Total demergers may qualify for tax neutrality if LIS requirements are met

SG de Impuestos sobre las Personas Jurídicas
escisión totalneutralidad fiscalrégimen de diferimientovalor de mercadomotivos económicos válidos LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.4
Affects CompanyExpat · Non-residentIndividual
V5644-26 24 Sept 2026

Tax neutrality regime may apply to total demergers if LIS requirements are met

SG de Impuestos sobre las Personas Jurídicas
escisión totalneutralidad fiscalreestructuración empresarialvalor de mercadoplusvalías LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.4
Affects CompanyExpat · Non-residentIndividual
V5608-26 16 Sept 2026

Mergers by absorption may qualify for tax neutrality under Corporate Income Tax

SG de Impuestos sobre las Personas Jurídicas
neutralidad fiscalfusión por absorciónreestructuración empresarialvalor de mercadorentas por transmisión LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.4
Affects CompanyExpat · Non-residentIndividual

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