Importantes novedades que facilitan la aplicación de las deducciones fiscales asociadas a la reserva de capitalización.

According to the recent decision of the Central Economic Administrative Court of May 27, 2024 00/04187/2021/00/00/00, there are only two possible minimum values which are set within a strict valuation rule, which does not allow the possibility of modifying its value even if there are accounting errors in the balance sheet.

In this case, the taxpayer was unable to prove that the declared value of the transfer of shares was in line with the market value agreed by two independent parties, and it was therefore appropriate to apply the valuation rule contained in article 37.1 b) of the Personal Income Tax Law.

The aforementioned precept establishes that, when it is not possible to prove the market transfer value, the transfer value cannot be less than: the higher of the theoretical value of the last closed fiscal year or the value resulting from capitalizing at 20% the profit of the last three fiscal years.

For this court, even if it is proven that the balance sheet suffers from errors, it is not possible to take a theoretical value to which a correction is applied, since the regulations do not provide for the possibility of such a correction.

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