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V0137-24 16 February 2024 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · novación modificativa

Mortgage novations regarding interest rates or terms are exempt from AJD, but other modifications are taxable

A query was raised regarding whether mortgage loan novation deeds that modify the interest rate or term are subject to ITP and AJD. The DGT ruled that these specific modifications are exempt from the gradual AJD levy, whereas other modifications involving valuable content remain taxable.

The question raised

Taxation of deeds of novation of mortgage loans in the event of a modification of the interest rate conditions and, where applicable, the term of the mortgage loans.

The DGT's ruling

Deeds of modification of mortgage loans granted to entrepreneurs are subject to the gradual AJD (Stamp Duty) rate if they are enforceable and registrable. The exemption from the gradual AJD rate (Law 2/1994) only applies if the modification affects the interest rate, the term, or both. Any other modification with enforceable content that is not mandatory under Law 5/2019 shall be subject to the tax.

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