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A query was raised regarding whether substituting one class of shares for ordinary shares interrupts the holding period required for the exemption under Article 21 of the Corporate Income Tax Act (LIS). The Directorate General for Taxes (DGT) ruled that if the percentage of ownership and the same economic and voting rights are maintained, there is no interruption.
Cuestión planteada A los efectos de la aplicación de la exención del artículo 21 de la Ley del Impuesto sobre Sociedades a la renta obtenida por la entidad consultante como consecuencia de la transmisión de su participación directa en A, si el período de tenencia de la participación no se ve interrumpido por operaciones en las que se hayan modificado los derechos políticos o económicos de las participaciones en el capital de A, dado que el porcentaje de participación de X en el capital de A es al menos del 5% antes y después de la modificación de los derechos de las participaciones.
La exención del artículo 21 de la LIS requiere una participación de al menos el 5% poseída de forma ininterrumpida durante el año anterior a la transmisión. El canje de acciones que no modifica los derechos económicos y políticos ni el porcentaje de participación no afecta al periodo de tenencia. No obstante, la continuidad de dichos derechos es una cuestión de hecho que debe probarse ante la Administración.
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