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V1533-14 11 June 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

SOCIMI regime maintained if acquired by another SOCIMI

A SOCIMI that opted for the SOCIMI regime asks whether a full acquisition by another SOCIMI affects its taxation. The DGT responds that a change in the subsidiary subscription model to another SOCIMI does not prevent the application of the special regime.

The question raised

1. Whether the additional facts described, known after the submission of consultation V1630-13, do not alter the taxation described therein, as the subsequent circumstances do not affect the valid economic grounds and motives adduced to justify the merger of company B and the consulting entity, and therefore should not affect the conclusions of the aforementioned consultation, requesting confirmation regarding the continued applicability of the special regime under Chapter VIII of Title VII of the recast text of the Corporate Income Tax Law.

The DGT's ruling

The acquisition of 100% of the shares by a new SOCIMI does not prevent the application of the special regime under Law 11/2009. If the entity becomes an unlisted subsidiary (art. 2.1.c), it must be wholly owned by the parent SOCIMI to maintain the regime. The value of the real estate for the investment requirement includes both the tangible asset and the implicit derivative from lease contracts. Management services provided by the parent to the subsidiary do not affect the consolidated result of the group.

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