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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

Whether the direct holdings of H1 in the listed entity SA must be computed as non-business assets in the sense of Article 4.Eight.Two of the LIP, considering that the joint direct and indirect participation of H1 in the same entity (through H2, H3 and H4) exceeds 5 percent.

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