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V0490-20 ·27 February 2020 ·consulta-vinculante Medium impact
Tax

Removal of floor clauses via novation is not subject to Stamp Duty (AJD)

A query was raised regarding whether the novation of mortgage loans to remove floor clauses is exempt from Stamp Duty (Actos Jurídicos Documentados). The Directorate General for Taxes (DGT) ruled that it does not constitute a taxable event, as it does not involve a valuable sum or asset.

In 6 key points

How it affects those involved

This ruling provides legal certainty for borrowers and lenders, confirming that the administrative cost of restructuring mortgage contracts to eliminate unfair floor clauses does not trigger Stamp Duty.

Lifecycle

2020-02-27PublishedPublished 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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