Positive delimitation

Regulations: Art. 33.1 and 2 Law IRPF

According to article 33.1 of the Income Tax Law capital gains and losses are the variations in the value of the taxpayer's assets that are revealed on the occasion of any alteration in their composition, unless they are classified as income under this Law.

From this definition it can be concluded that, for a capital gain or loss to occur, the following requirements must be met, which we will now analyze:

1. 1. Existence of an alteration in the composition of the taxpayer's assets
2. 2. That as a consequence of said alteration there is a variation in the value of the taxpayer's assets.
3. 3. That there is no legal rule that expressly exempts said gain from taxation or makes it taxable as income.