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An entity inquired whether the exemption under Article 21 of the Corporate Income Tax Act could apply to dividends distributed from reserves generated both before and after the acquisition of its shares. The Directorate General for Taxes (DGT) ruled that the exemption only applies to the portion representing a distribution of profits and not to the recovery of the investment.
Cuestión planteada - Si, en caso de reparto de dividendo por parte de la entidad consultante a su socio único, con cargo a las reservas disponibles consolidadas generadas antes y después de la adquisición de las participaciones sociales, resulta de aplicación la exención prevista en el artículo 21 de la Ley 27/2014, de 27 de noviembre, del Impuesto sobre Sociedades, pese a que parte de dichas reservas hayan sido generadas, en su mayor parte, en periodos anteriores al tiempo de tenencia de las participaciones.
Según la normativa contable, si los dividendos superan los beneficios generados desde la adquisición, el exceso se considera recuperación de la inversión y reduce el valor contable de la participación. Sobre esa parte de recuperación no procede la exención del artículo 21 de la LIS por no existir renta sujeta al impuesto. La exención solo es aplicable a la parte de los dividendos que corresponda a beneficios generados con posterioridad a la adquisición, siempre que se cumplan los requisitos de participación y temporalidad.
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