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V3396-20 23 November 2020 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ITPAJD · permuta

Exchange of shares in different assets between co-owners subject to transfer tax

Three siblings wish to exchange shares in a piano, a residential property, and a village house so that each becomes the sole owner of specific assets. The DGT has ruled that, as this does not involve a single community of property, the transaction constitutes an exchange rather than a mere dissolution of co-ownership.

The question raised

There are two questions raised:

The DGT's ruling

If several communities of property exist, their simultaneous dissolution through the exchange of assets from different communities constitutes a barter and not a dissolution of co-ownership. In this case, the transaction must be taxed under the modality of onerous transfers of property. The dissolution of a community only avoids the Property Transfer Tax if there is no excess adjudication or if the excess is compensated exclusively in cash according to the Civil Code. The DGT does not have the competence to determine the tax rates applicable in the Autonomous Communities.

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