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V1859-17 13 July 2017 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · canje de valores

Requirements for the application of the tax neutrality regime in the exchange of securities

The applicant asks whether the contribution of shares from one company to another can qualify for tax neutrality and if this constitutes a valid economic reason. The DGT rules that this is possible provided the requirements of Article 80 of the Corporate Tax Act are met and the primary purpose of the transaction is not tax fraud or evasion.

The question raised

Question raised Whether, in the operation of contribution by entity A, made by its partners to a company in accordance with the above, the tax neutrality regime provided for in Chapter VII of Title VII of Law 27/2014, of November 27, on Corporate Income Tax, would be applicable and, in particular, whether it can be considered to be carried out for valid economic reasons.

The DGT's ruling

Para aplicar el régimen especial de canje de valores, la entidad beneficiaria debe adquirir participaciones que le permitan obtener la mayoría de los derechos de voto y cumplir los requisitos del artículo 80 de la LIS. Además, la operación no debe tener como objetivo principal el fraude o la evasión fiscal, debiendo realizarse por motivos económicos válidos. Motivos como preservar el legado familiar, realizar nuevas inversiones o preparar la sucesión generacional pueden considerarse válidos según el artículo 89.2 de la LIS.

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