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V2916-18 14 November 2018 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
OTRO · permuta de cuotas

Allocation of real estate through exchange of shares subject to ITPAJD and IIVTNU

Consultants seek to be allocated specific properties from a community of assets while maintaining the remainder in joint ownership. The DGT rules that, as the community is not dissolved, this constitutes an exchange of shares subject to taxation.

The question raised

Taxation of the operation under the Transfer Tax and Stamp Duty, the Real Estate Transfer Tax, and Personal Income Tax.

The DGT's ruling

As the undivided interest in the remaining assets is maintained, there is no dissolution of the community but rather an exchange of shares. This operation is subject to the Transfer Tax and Stamp Duty (ITPAJD) for onerous transfers and to the Real Estate Transfer Tax (IIVTNU) for the transfer of ownership. In Personal Income Tax (IRPF), if the adjudication respects the ownership share, there is no change in assets nor any gain or loss.

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