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V1649-25 15 September 2025 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · exención

Shareholdings with at least 5% voting rights may be excluded from non-affected assets calculation

The consultant asks whether their shareholdings in a listed entity should be considered non-affected assets for wealth tax exemption, as their total direct and indirect shareholding exceeds 5%. The DGT clarifies that the combined shareholding can be used to assess the entity's economic activity, and such holdings may not be counted if management and resources requirements are met.

The question raised

Cuestión planteada - Si las participaciones directas de H1 en la entidad cotizada SA deben computarse como valores o elementos patrimoniales no afectos en el sentido del artículo 4.Ocho.Dos de la LIP, considerando que la participación conjunta directa de H1 en la misma e indirecta (a través de H2, H3 y H4) excede del 5 por ciento.

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