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V1934-20 15 June 2020 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · aportación no dineraria

Non-cash contributions may apply under special regime if LIS requirements met

A natural person enquires whether contributions of their holdings in a food entity to a new Spanish resident holding company may qualify under the special regime. The DGT states this is possible if participation and ownership requirements are met, provided the transaction is not primarily aimed at obtaining a fiscal advantage.

The question raised

Question posed: Whether the described transaction may qualify for the tax regime provided for in Chapter VII of Title VII of Law 27/2014, of November 27, on Corporate Income Tax.

The DGT's ruling

To apply the special regime for non-monetary contributions, the receiving entity must be a resident in Spain and the contributor must maintain a shareholding of at least 5% in its equity. Furthermore, the shares must have been held uninterruptedly during the year prior to the contribution. The transaction must not have the primary objective of tax fraud or evasion, requiring valid economic reasons distinct from mere tax advantage. Reasons of structural simplification or channeling of investments could be valid, although their classification depends on the facts.

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