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V0577-22 21 March 2022 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · sociedad de capital riesgo

Investments under a SCR's mandatory coefficient do not count towards wealth tax exemption

The DGT clarifies how to calculate assets based on the mandatory investment coefficient and the nature of shareholdings to determine eligibility for wealth tax exemption.

The question raised

In relation to the investment by company B in the SCR for the purposes of applying the exemption provided for in Article 4.Eight. Two of Law 19/1991, the following questions are raised:

The DGT's ruling

The values of the mandatory investment coefficient of an SCR are not counted as securities for the purpose of determining whether the entity manages a portfolio of movable assets, as they are held to comply with legal obligations. These assets may be considered tied to the activity as they are necessary for its exercise. However, holdings during periods of temporary non-compliance do count as securities, unless they meet other legal requirements. For the remaining assets not included in the coefficient, their tie to the activity must be assessed based on their necessity for the activity.

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