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V0266-19 ·12 February 2019 ·consulta-vinculante Medium impact
Tax

Formation of a joint ownership community over a pharmacy involves the transfer of assets

A query was raised regarding the Personal Income Tax (IRPF) implications of creating a joint ownership community to operate a pharmacy. The Directorate General for Taxes (DGT) explains that, as pharmacy ownership is personal and non-transferable to non-pharmacists, the creation of the community constitutes a transfer of business assets from the mother to her children.

In 6 key points

How it affects those involved

The creation of a joint ownership community in this context triggers capital gains tax implications, as it is treated as a transfer of business assets.

Lifecycle

2019-02-12PublishedPublished 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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