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V0801-24 18 April 2024 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · canje de valores

Possibility of applying the tax neutrality regime in a securities exchange subject to compliance with requirements and absence of fraud

The DGT confirms that a physical person's contribution of shares in a rental society to a new company (Newco1) may qualify for the special share exchange regime if legal requirements are met and there is no primary objective of tax fraud or evasion.

The question raised

Question posed Whether the proposed operation is subject to the special regime regulated in Chapter VII of Title VII of Law 27/2014, of November 27, on Corporate Income Tax, and whether the reasons indicated for proposing the aforementioned operation constitute valid economic reasons for the purposes of applying the cited special regime, as well as the tax treatment that the designed operation may trigger for the purposes of Personal Income Tax, Transfer Tax and Stamp Duty, and Tax on the Increase in Value of Urban Land.

The DGT's ruling

La operación puede considerarse un canje de valores si la entidad adquirente obtiene la mayoría de los derechos de voto, permitiendo aplicar el régimen de neutralidad fiscal de la LIS. Bajo este régimen, no se integrarán rentas en el IRPF del socio y los valores se valorarán por su valor fiscal de origen. En cuanto al ITPAJD, la operación estará no sujeta o exenta, siempre que no se realice con ánimo de eludir el impuesto de la transmisión de inmuebles. La comprobación de los motivos económicos válidos es una cuestión de hecho que corresponde a la Administración tributaria.

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