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V2282-15 20 July 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · aportación no dineraria

The special regime for non-monetary contributions may be applied if the requirements of the CIT Act are met

A natural person inquires whether the contribution of shares from one company to another may qualify for the special regime for non-monetary contributions. The DGT indicates that if the requirements regarding participation, activity, and holding are met, and valid economic reasons exist, said regime is applicable.

The question raised

Question posed: Whether the special regime established in Chapter VII of Title VII of the Corporate Income Tax Act is applicable to the proposed transaction, specifically whether the transaction would be classified as a special non-monetary contribution.

The DGT's ruling

For a contribution of shares to qualify for the special regime under Article 87 of the CIT Act, the receiving entity must be resident in Spain or have a permanent establishment, and the contributor must maintain a participation of at least 5% in the equity of the entity following the transaction. The shares must represent at least 5% of the equity of the contributed entity, which cannot have the management of movable or immovable property as its main activity, and must have been held uninterruptedly during the previous year. Furthermore, the transaction must not have the primary objective of tax fraud or evasion, but must instead respond to valid economic reasons pursuant to Article 89.2 of the CIT Act.

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