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V0539-14 28 February 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · capital riesgo

Exemption available for share transfer if 5% ownership maintained for one year

A private equity fund asks whether it meets the eligibility period for tax exemption on the transfer of shares in non-resident entities. The DGT confirms that if at least 5% ownership is maintained throughout the previous year, the full transfer income is exempt.

The question raised

Whether in the case presented, the one-year seniority requirement required by Article 21.2 of the consolidated text of the Corporate Income Tax Law is met.

The DGT's ruling

To qualify for the exemption on the transfer of holdings in non-resident entities, a holding of at least 5% of the capital must be held uninterruptedly during the year preceding the date of the transfer. If this seniority requirement is met for a portion of the holding, the taxpayer may benefit from the exemption on the entirety of the income obtained from the transfer of their entire holding, including the portion that has not met said period.

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