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V0126-21 ·29 January 2021 ·consulta-vinculante Medium impact
Tax

Selling storage units following renovation for commercial purposes is taxed as business income rather than capital gains

A property owner converts a leased premises into seventeen storage units to sell to third parties. The DGT has ruled that this real estate development activity constitutes a business activity; therefore, the sale generates income from business activities instead of capital gains or losses.

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2021-01-29PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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