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V0250-16 ·25 January 2016 ·consulta-vinculante Medium impact
Tax

Dissolution of a SICAV sub-fund does not qualify for special tax regime for mergers or demergers

Spanish residents consulted whether the restructuring of a sub-fund within a Luxembourg SICAV could benefit from the special tax regime for mergers and demergers under the Corporate Income Tax Act. The Directorate General for Taxes (DGT) ruled that this is not possible because a sub-fund is not a legal entity and its assets do not constitute a business undertaking.

In 6 key points

How it affects those involved

The ruling clarifies that sub-funds within SICAVs lack the legal personality and business structure required to trigger special tax treatments for corporate reorganisations.

Lifecycle

2016-01-25PublishedPublished 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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