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V0269-15 23 January 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · hecho imponible

Income from the transfer of assets following a judicial ruling must be attributed to the fiscal year in which the ruling becomes final

A query is made as to whether income derived from a corporate restructuring, the execution of which was imposed by judicial ruling, must be declared in the year of the restructuring (2005) or in the year the ruling becomes final. The DGT responds that it must be attributed to the tax period in which it accrues, i.e., when the ruling becomes final.

The question raised

Question posed: Whether the positive or negative income generated by the transfer or receipt of the entirety of the assets, rights, and obligations transferred must be included in the tax base of the Corporate Income Tax for the 2013 fiscal year, the year the ruling becomes final and the transfer is made public by the ruling document, or whether it must be retroactively applied to the 2005 fiscal year and be subject to amending, supplementary, or substitute tax returns for that 2005 fiscal year.

The DGT's ruling

Income and increases in net worth derived from the transfer of assets and the exchange of shares imposed by judicial ruling must be attributed to the tax period in which the ruling becomes final. According to the regulations, income and expenses are attributed to the period in which they accrue, respecting accounting standards. In this case, the attribution corresponds to the fiscal year in which the judicial resolution becomes final.

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