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V1221-14 7 May 2014 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · novación hipotecaria

Mortgage loan novation modifying the appraisal value is taxed via the gradual AJD instalment

The taxpayer inquires how a modification to the appraisal value in a mortgage novation is taxed if the exemption under Law 2/1994 does not apply. The DGT rules that it must be taxed via the gradual AJD instalment based on the guaranteed capital, noting that the tax rate depends on the relevant Autonomous Community.

The question raised

How would the modification of the appraisal value be taxed in the event that it is not subsidized by Law 2/1994, of March 30. Specifically, what would be the taxable content and the rate of the gradual installment.

The DGT's ruling

The exemption under Law 2/1994 is not applicable if the modification does not refer to the interest rate or the term. In such case, the deed is subject to the gradual installment of the AJD if it meets the requirements of article 31.2 of the TRLITPAJD. The taxable base shall be the amount of the obligation or guaranteed capital, including interest, indemnities, and other analogous concepts. The tax rate is the competence of the Autonomous Community.

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