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V1655-25 15 September 2025 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · canje de valores

Requirements for applying the fiscal neutrality regime in share exchanges

A company proposes a share exchange whereby it transfers its full shareholdings in 15 entities to another entity in exchange for new shareholdings. The DGT states that the operation may be subject to the fiscal neutrality regime if the conditions of Article 80 of the LIS are met and the primary objective is not fraud.

The question raised

Whether the described operation may benefit from the tax regime provided for in Chapter VII of Title VII of Law 27/2014, of November 27, on Corporate Income Tax and whether valid economic reasons exist.

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