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V2463-24 5 December 2024 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · adquisición mortis causa

Inheritance tax reduction is not maintained if proceeds from the sale of shares are deposited in a current account

The taxpayer asks whether keeping the proceeds from the sale of inherited shares in a current account for ten years satisfies the requirement to maintain the family business reduction. The DGT responds that it does not, as funds in a current account are not considered immobilised and do not allow for verification of compliance with the requirement.

The question raised

Whether the requirement to maintain the investment can be understood as fulfilled in the event that the amount obtained from the transfer of social shares is kept in a current account for ten years without performing any act of disposal over it.

The DGT's ruling

To maintain the 95% reduction for the mortis causa acquisition of shares, the acquisition value must be maintained for ten years. This requirement is met if the amount is immobilized through reinvestment in a financial product that allows for the verification of its permanence. A current account does not allow for the identification of such compliance, as the money is at the disposal of the holder and is not immobilized.

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