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V0017-18 9 January 2018 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · cesión de crédito

Assignment of a loan subject to variable Stamp Duty; rectification of error exempt

An entity has requested clarification on whether the transfer of its position in a loan agreement and the rectification of an error in the original deed are subject to tax. The DGT has ruled that the assignment of the loan is subject to the variable rate of Stamp Duty (AJD), whereas the rectification is not subject to the tax as it lacks economic substance.

The question raised

Confirmation that the taxation of the previously described deed must be limited to the concept of the assignment of the credit, with the acquirer being the taxable person and the tax base being that established in Article 30 of the consolidated text of the ITP and AJD, without the rectification performed giving rise to any taxation.

The DGT's ruling

The assignment of a credit, being a transfer of a right carried out by a VAT taxable person, is not subject to onerous transfers of property but is subject to the variable rate of Stamp Duty (AJD) pursuant to Article 31.2. The taxable person is the acquirer and the tax base is the totality of the mortgage liability. Conversely, the rectification of an error in the deed is not subject to the variable rate of Stamp Duty (AJD) as it is not an act with assessable economic content.

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