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V3216-20 28 October 2020 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · novación modificativa

The taxable base for mortgage loan novation is the economic content of the modified financial clauses

A query was made regarding the taxable base for a novation intended to extend the term of a mortgage loan where the lender is not a credit institution. The DGT determines that, if the lender is a businessperson or professional, the transaction is subject to the variable rate of Stamp Duty (AJD), and the taxable base is the economic content of the assessable financial clauses.

The question raised

Since the lender is not a credit institution, what is the tax base of the loan term extension contract secured by a mortgage?

The DGT's ruling

If the lender is an entrepreneur or professional, the modificatory novation of a mortgage loan is subject to the variable rate of Stamp Duty (AJD). The tax base is determined by the economic content of the assessable financial clauses that delimit the economic capacity subject to taxation. This applies even if the mortgage guarantee is not modified, provided that the novation is quantifiable.

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