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V2597-23 27 September 2023 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · aportación no dineraria

Fiscal neutrality maintains original values and acquisition dates in non-cash contributions

A company asks whether the value and acquisition date of participations from a second non-cash contribution should match those of the original assets. The DGT explains that under the fiscal neutrality regime, original values and dates are preserved, but warns that the regime may not apply if there is a fraud or tax advantage objective.

The question raised

1. Confirmation that the seniority and valuation, for tax purposes, of the shares of entity R transferred, obtained in the second non-monetary contribution operation described, must be the same as the seniority of the assets contributed by entity N in the first non-monetary contribution operation to the consulting entity, as both operations have opted for the tax neutrality regime and fulfill the conditions for its application.

The DGT's ruling

If the tax neutrality regime is applied, the acquired assets shall be valued using the same tax values they held in the transferring entity, and their acquisition date shall be maintained. In the case of shares received through the contribution of assets, these shall be valued at the tax value of the contributed assets. However, if the exemption for the transfer of shares is applied, the entity may be required to include the deferred income from the contribution pursuant to Article 21.4.a) of the LIS.

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