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V2360-22 15 November 2022 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · canje de valores

Requirements for the application of the special regime for the exchange of securities and non-monetary contributions

The DGT states that the special regime may be applied if LIS requirements are met and the operation has valid economic motives.

The DGT's ruling

For the exchange of securities, the entity must acquire a stake that allows it to obtain the majority of voting rights and comply with the requirements of Article 80 of the LIS. In non-monetary contributions by natural persons, the holdings must represent at least 5% of the entity's equity and must have been held uninterruptedly during the previous year. Finally, the transaction must not have the primary objective of tax fraud or evasion, requiring valid economic reasons pursuant to Article 89.2 of the LIS.

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