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V0238-26 5 February 2026 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · operaciones societarias

Tax arises on capital reduction date with investment fund shares return

The DGT establishes that tax arises on the date the agreement is formalised, with the public deed date being relevant.

The question raised

Timing of the accrual of ITPAJD in the proposed transaction

The DGT's ruling

Capital reduction with return of contributions is a corporate transaction subject to ITPAJD. The taxpayer is the shareholder and the tax base is the value of the assets received. Accrual occurs on the day the agreement is formalized, with the date of the public deed being the relevant datum for this calculation.

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