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V2596-24 17 December 2024 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · operaciones societarias

Contribution of Spanish real estate to a Chilean company is subject to Stamp Duty

A consultation was made regarding whether a demerger carried out under Chilean law, involving the contribution of real estate in Madrid to a new Chilean company, is subject to the ITPAJD (Stamp Duty). The DGT determines that while it is not taxed as a corporate transaction, it is subject to the variable rate of Stamp Duty.

The question raised

Whether said spin-off operation carried out in accordance with Chilean law can be considered within those covered by article 19 of the TRLITPAJD.

The DGT's ruling

The contribution of real estate in Spain to a non-resident company without its effective management seat in Spain does not constitute a corporate transaction subject to the ITPAJD as it occurs outside its territorial scope. However, being a registrable operation, it is subject to the variable rate of the tax under the modality of documented legal acts pursuant to article 31.2 of the TRLITPAJD. Regarding the IIVTNU, the Chilean company cannot benefit from the restructuring regime of the LIS, therefore the transfer of the urban land incurs said tax.

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