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V1042-19 ·13 May 2019 ·consulta-vinculante Medium impact
Tax

Fishery activity cessation grants are non-taxable if offset by vessel scrapping losses

A fishing company has requested clarification on whether aid received for the permanent cessation of its activity should be included in its taxable base. The Directorate General for Taxes (DGT) has ruled that such aid is not taxable, provided the tax loss resulting from the scrapping of the vessel is taken into account.

In 6 key points

How it affects those involved

This ruling provides tax certainty for fishing companies undergoing permanent cessation of activity, allowing them to offset aid received against the capital losses incurred from scrapping vessels.

Lifecycle

2019-05-13PublishedPublished 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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