Skip to content
Back to index
V2657-14 8 October 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · valor normal de mercado

Shareholdings received without consideration must be valued at market value

A Spanish entity receives shareholdings from a foreign subsidiary without payment. The DGT states this constitutes a profit-making acquisition and must be included in taxable base at market value.

The question raised

1. Confirmation that the holding in A1 should be valued for tax purposes by BSub at its market value, without impact on the taxable base of BSub.

The DGT's ruling

The receipt of shares without consideration constitutes an acquisition for value according to Article 15.2.a) of the TRLIS. Therefore, the acquiring entity must value said shares at their fair market value and include this value in its Corporate Income Tax taxable base. Regarding dividends from results prior to the acquisition, these may reduce the book and tax value of the holding, potentially generating adjustments according to the applicable accounting and tax rules.

Book your free first meeting