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V1451-15 11 May 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

SOCIMIs not obliged to distribute profits attributable to pre-special regime periods

A consulting company asks whether profits attributable to periods before the application of the SOCIMI regime must be distributed. The DGT responds that such distribution obligation does not apply to profits attributable to periods when the society was not subject to the special regime.

The question raised

1. Whether the profits corresponding to income which, by application of the provisions of Article 12.c) of Law 11/2009, are imputed to previous fiscal years (prior to the application of the special regime) are excluded from the distribution obligation of Article 6 in accordance with the provisions of Article 6.1.b) in fine.

The DGT's ruling

The obligation for SOCIMI companies to distribute profits does not extend to the portion of income attributable to fiscal years in which the company was not taxed under the special regime. Pursuant to Article 12.1.c) of Law 11/2009, income from the transfer of real estate held previously is understood to be generated linearly throughout the entire period of ownership. Therefore, the portion attributable to prior periods is taxed under the previous regime and is excluded from the distribution obligation under Article 6.

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