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V2937-15 7 October 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · aportación no dineraria

Asset contribution regime may apply if legal requirements and valid economic motives are met

A natural person enquires whether the contribution of shares from a company B to a company A may qualify for the special regime under LIS. The DGT responds that this is possible if participation and ownership requirements are met and the transaction has valid economic purposes such as improved financing or operational efficiency.

The question raised

Question posed: Whether the non-monetary contribution operation from B to entity A may qualify for the special tax regime under Chapter VII of Title VII of Law 27/2014, of November 27, on Corporate Income Tax. And whether the alleged motives can be considered valid for the purposes of Article 89.2 of the LIS.

The DGT's ruling

The special regime for contributions of assets is applicable if the receiving entity is resident in Spain, the contributor retains at least 5% of the equity following the transaction, and the shares have been held uninterruptedly during the previous year. Furthermore, the transaction must not have the primary purpose of fraud or evasion, but rather valid economic motives such as the rationalization of activities. Regarding the ITPAJD, restructuring operations under the LIS are not subject to the corporate transactions modality and are exempt under the modalities of onerous transfers and documented legal acts.

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