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V0878-20 ·15 April 2020 ·consulta-vinculante Medium impact
Tax

Termination of land swap for future works allows VAT correction via credit note

A company sought guidance on the procedure following the termination of a land swap agreement for future works where VAT had already been charged. The DGT ruled that the return of the plot does not constitute a new supply, but rather a modification of the taxable base requiring the correction of tax amounts.

In 6 key points

How it affects those involved

This ruling clarifies that the termination of such contracts should be handled through tax corrections rather than treating the return of assets as a separate transaction, ensuring VAT accuracy.

Lifecycle

2020-04-15PublishedPublished 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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