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
V5384-26 28 Jul 2026

Exemption not applicable if not habitual residence in two years prior

SG de Impuestos sobre la Renta de las Personas Físicas
ganancia patrimonialvivienda habitualexencióntransmisión de inmueblesresidencia habitual LIRPF — Ley 35/2006 del IRPF art. 6.1LIRPF — Ley 35/2006 del IRPF art. 33.1
Affects CompanyExpat · Non-residentIndividual
V5237-26 23 Jul 2026

Fiscal neutrality regime applicable to contribution of a business branch or assets

SG de Impuestos sobre las Personas Jurídicas
neutralidad fiscalrama de actividadaportación de activosunidad económicareestructuración empresarial 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
V5225-26 21 Jul 2026

Proportional total split of a company may qualify for tax neutrality

SG de Impuestos sobre las Personas Jurídicas
escisión total proporcionalneutralidad fiscalreestructuración empresarialramas de actividadvalor de mercado 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
V5211-26 20 Jul 2026

Neutral tax regime possible in non-proportional total split

SG de Impuestos sobre las Personas Jurídicas
escisión total no proporcionalneutralidad fiscalrama de actividadreestructuración empresarialvalor de mercado 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
V5186-26 17 Jul 2026

Absorption merger may qualify for tax neutrality regime

SG de Impuestos sobre las Personas Jurídicas
fusión por absorciónneutralidad fiscalrégimen especial de reestructuracionesvalor 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
V5158-26 14 Jul 2026

Partial financial spin-off may qualify for fiscal neutrality if conditions are met

SG de Impuestos sobre las Personas Jurídicas
escisión parcial financieraneutralidad fiscalrama de actividadreestructuración empresarialvalor de mercado 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
V5116-26 6 Jul 2026

Free transfer of copyright rights subject to inheritance and gifts tax

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
donaciónderechos de autorvalor de mercadohecho imponibledevengo LISD — Ley 29/1987 de Sucesiones y Donaciones art. 3.1.bLISD — Ley 29/1987 de Sucesiones y Donaciones art. 5.b
Affects CompanyExpat · Non-residentIndividual

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