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A Spanish company inquired whether it could apply Corporate Income Tax exemptions to dividends and income from the sale of securities held in non-resident entities. The Directorate General for Taxes (DGT) ruled that this is not possible because the indirect holding in the entities is 4%, failing to meet the required 5% minimum threshold.
Cuestión planteada 1º) Si a la entidad B le es de aplicación la exención prevista en el artículo 21 de la LIS en cuanto a los dividendos y rentas derivadas de la transmisión de valores representativos de los fondos propios de las entidades C, D y E, no residentes en territorio español.
Para aplicar la exención del artículo 21 de la LIS, se requiere una participación significativa del 5% o un valor de adquisición superior a 20 millones de euros. Si la entidad participada es una 'holding' (más del 70% de sus ingresos provienen de dividendos o rentas de transmisión), se debe realizar un análisis de la participación indirecta ('look through'). Al ser la participación indirecta del 4%, no se cumple el requisito del 5% necesario para la exención ni para la deducción por doble imposición del artículo 32 de la LIS.
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