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An individual has requested clarification on whether the contribution of real estate and material assets for the incorporation of a company is subject to Transfer Tax (ITPAJD) or treated as a corporate operation, and its VAT treatment. The DGT ruled that the transaction constitutes a corporate operation exempt from ITPAJD, and its non-liability for VAT depends on whether the assets constitute an autonomous economic unit.
Question raised 1. Whether the contribution of the assets used, namely, the real estate and material means in the incorporation of the new company, constitutes a transaction subject to onerous transfers of assets or rather the modality of corporate transactions, insofar as it involves non-monetary contributions in exchange for shares received through the subscription of the initial capital or a subsequent capital increase.
The non-monetary contribution of assets used in an activity during the incorporation of a company constitutes a corporate transaction under the ITPAJD, prevailing over the modality of onerous transfers of assets, and is exempt pursuant to the TRLITPAJD. Regarding VAT, the transfer of leased assets shall only constitute an autonomous economic unit not subject to tax if it is accompanied by an organizational structure of material and human factors or one of them; otherwise, it shall be a mere transfer of assets subject to tax.
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