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V0450-20 ·26 February 2020 ·consulta-vinculante Medium impact
Tax

Deed price prevails over certified value if the latter is lower than the agreed consideration

The inquirer asks whether they can settle the Transfer Tax (ITP) based on a value certified by the Administration that is lower than the actual purchase price. The DGT responds that, although the Administration may be unable to verify that certified value, the tax base shall always be the highest of three values: the declared value, the value determined through verification, or the agreed price.

In 6 key points

How it affects those involved

This ruling clarifies that taxpayers cannot use a lower certified value to reduce their tax liability if it falls below the actual price agreed upon in the contract.

Lifecycle

2020-02-26PublishedPublished 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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