Before inquiries received, for the purpose of calculating the capital gain or loss derived from the sale of a property, what value will be taken as the acquisition value:

1. If what is determined by the Income Tax regulations (Income Tax)
(The actual amount for which said acquisition was made, plus the costs of investments and improvements and the expenses and taxes inherent in the acquisition, paid by the acquirer),

2. or the one assigned by the Autonomous Community competent for the liquidation of the Tax on Patrimonial Transmissions and Documented Legal Acts that, in its day, recorded the previous acquisition of the property that is now transmitted.
A recent ruling of the Supreme Court of December 21 considers the doctrine contained in two previous sentences of 06/18/2012 and 12/09/2013 to be correct, and concludes that for the determination of the capital increase for the purposes of personal income tax obtained by the disposal of a property, the value assigned by the Autonomous Community for the purposes of the ITP will be considered as the acquisition value.

This is important if we think that until recent times it was common that a good part of the purchase price or the value of the new work did not appear in writing and that the Liquidation Office rotated complementary settlements for the difference between the declared value and what the Administration considered as real market value. Well, when we are in this case we can substitute the acquisition value that is recorded in deed by the value verified by the Liquidation Office and we will not have to pay for the difference.

As for the capital gains obtained in non-prescribed periods (in the last four years), we also have the possibility of rectifying the IRPF settlement if it is the case that the initial value verified by the Administration had been higher than the one declared in Acquisition deed.v