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V1636-22 8 July 2022 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · junta de compensación

Formation of a Compensation Board is not subject to ITP or corporate operations, unless for profit-making purposes

A query was raised regarding whether the formation of a Compensation Board for an urban development sector is subject to ITP and AJD. The DGT indicates that the formation does not constitute a transfer of assets or a corporate operation, unless the Board carries out profit-making activities, in which case the corresponding exemption would apply.

The question raised

Taxation of the operation in the Transfer Tax and Documented Legal Acts Tax in accordance with the provisions of Article 31.2 of the Consolidated Text of the Law on Transfer Tax and Documented Legal Acts approved by Royal Legislative Decree 1/1993, of September 24.

The DGT's ruling

The establishment of a Compensation Board of a fiduciary nature does not constitute a taxable event for transfer tax or corporate operations. If the Board were to carry out lucrative activities, it would be taxed as corporate operations but would benefit from the exemption provided in Article 45.I.B)11 of the TRLITPAJD. Regarding Documented Legal Acts, liability for the variable fee will depend on whether the deed has as its object a valuable amount or thing and whether it is registrable in the Property Registry.

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