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A commercial entity enquired whether the transfer of a building plot, previously acquired with VAT, was exempt under Article 20.One.20º of the VAT Act. The DGT ruled that, due to its status as a building plot, the transaction is subject to tax and cannot benefit from the exemption.
Question posed: Whether the exemption from Value Added Tax provided for in Article 20.One.20º of Law 37/1992 would be applicable to said delivery.
The exemption provided in Article 20.One.20º of Law 37/1992 does not apply to land classified as building plots or buildable land. If the transfer is carried out on land that is already a building plot or possesses an administrative license for construction, the delivery is subject to VAT. In the specific case, as it is a building plot, the operation is taxed at the general rate of 21%.
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