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V2945-17 15 November 2017 · SG de Impuestos sobre el Consumo Criterion in force
IVA · resolución de permuta

Termination of a swap involving assets of analogous value does not constitute a new supply for VAT purposes

A City Council has requested clarification regarding the VAT and Transfer Tax (ITP/AJD) treatment following the termination of a property swap. Due to changes in the nature of the assets, different properties were received compared to the originals. The Directorate General for Taxes (DGT) ruled that if the value is analogous, this constitutes a termination of the initial transaction rather than a new supply of goods.

The question raised

Cuestión planteada Tratamiento a efectos del Impuesto sobre el Valor Añadido y del Impuesto sobre Transmisiones Patrimoniales y Actos Jurídicos Documentados. Sujetos pasivos.

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