Back to index
V1767-15 3 June 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · canje de valores

The special share exchange regime may be applied if the requirements of the CIT Act are met and valid economic reasons exist

A Foundation inquires whether an operation to acquire shares in order to obtain a majority of voting rights may qualify for the special share exchange regime. The DGT responds that it is possible provided that the legal requirements are met and the primary purpose of the operation is not tax advantage.

The question raised

Question raised 1) Whether the described operation may qualify for the special tax regime under Chapter VII of Title VII of the Corporate Income Tax Law 27/2014, of November 27.

The DGT's ruling

To apply the special share exchange regime, the entity must acquire shares that allow it to obtain a majority of voting rights and comply with the requirements of Article 80 of the CIT Act. The operation must not have the primary objective of tax fraud or evasion, and must respond to valid economic reasons such as the restructuring or rationalization of activities. Reasons such as the unification of shareholder policy, management agility, and financial efficiency may be considered economically valid. Furthermore, entities may be taxed under the tax consolidation regime starting from the following tax period if they meet the requirements of Article 58 of the CIT Act.

Apply this to a real case

What is published here, applied to a company or a specific case. The first meeting is free.

Book a meeting Write to the firm
Email
Contact