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V3096-16 4 July 2016 · SG de Impuestos sobre el Consumo Criterion in force
IVA · base imponible

Reduction of VAT taxable base not applicable to the portion of loans secured by collateral

The applicant asks whether the taxable base of a loan secured by a mortgage can be modified following the debtor's declaration of insolvency. The DGT rules that such a reduction cannot be applied to the portion covered by the collateral.

The question raised

Possibility of modifying the taxable base of the transaction that generated this secured credit.

The DGT's ruling

The VAT taxable base may be reduced when the recipient fails to pay the installments and a bankruptcy declaration order is issued, provided that the legal deadlines are met. However, the modification of the taxable base is not applicable to credits benefiting from a security interest, in the guaranteed portion. This applies even if it concerns a second mortgage and as long as the security remains in force.

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