The establishment of a Compensation Board does not constitute a transfer of assets and, in principle, is not subject to corporate operations or Stamp Duty

A query is made as to whether the establishment of an Urban Compensation Board is subject to the Transfer Tax and Stamp Duty (ITPAJD). The DGT determines that there are no transfers of assets and that, should the Board have profit-making purposes, the operation would be exempt under the corporate operations modality.