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A query was raised regarding whether the transfer of shares in a company holding real estate is exempt from VAT or if the anti-avoidance clause under Article 108 of the LMV applies. The DGT ruled that the transfer of securities is exempt, unless it is demonstrated that the intention is to evade tax on the real estate through the transfer of securities.
Cuestión planteada Aplicación del artículo 108 de la Ley del Mercado de Valores.
La transmisión de valores está exenta de IVA e ITPAJD, salvo que se pretenda eludir el pago de los tributos que gravarían la transmisión de los inmuebles propiedad de las entidades representadas. Para que se aplique la excepción, debe haber una transmisión en mercado secundario de valores no admitidos a negociación oficial y existir ánimo de elusión. La Administración debe probar la intención de eludir, aunque existen supuestos de presunción iuris tantum si se cumplen requisitos objetivos de control o aportación de inmuebles no afectos a actividad empresarial. En este caso concreto, no parece concurrir la excepción porque los inmuebles deben entenderse afectos a actividad empresarial.
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