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V1854-24 6 August 2024 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · ratio de endeudamiento

Acquisition leverage ratio must consider the group's total debt as a single act

The taxpayer asks whether, when calculating the leverage ratio under Article 67.b) of the Corporate Income Tax Act, the acquisition price can be reduced by dividends received on the same day as the purchase. The DGT rules that the price is not reduced and that the debt must be accounted for in its entirety for the tax group.

The question raised

Question raised 1. Whether only the debt of Tranche A and the intra-group debt at the level of company X should be taken into account for the calculation of the leverage ratio under Article 67.b), but in exchange, the acquisition price of entities ABCD (denominator) must be reduced for each company by the amount of the dividends distributed on the same day as the purchase.

The DGT's ruling

To determine the leverage ratio under Article 67.b) LIS, the totality of the acquisition debt incurred in a single transaction by the group entities that have assumed the cost against third parties or related parties outside the group must be considered. The acquisition price is not reduced by distributed dividends, as indebtedness towards third parties has not been decreased within the group. The acquisition debt is the totality of the debt incurred in a single transaction with respect to third parties or related parties outside the tax group.

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