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V3446-15 11 November 2015 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · periodo impositivo

Renouncing SICAV status concludes the tax period and allows integration into the tax group

A query was raised regarding whether a change in legal regime and tax rate resulting from a company renouncing its SICAV status implies the conclusion of its tax period. The DGT confirms that it does, provided the requirements for changing the regime and tax rate are met, and further analyses its integration into tax consolidation and the merger regime.

The question raised

Question posed: Whether the renunciation by entity C of the SICAV regime implies the conclusion of its tax period within the meaning of Article 27.2.d) of the LIS, insofar as both its legal regime and its applicable tax rate are modified.

The DGT's ruling

The transformation of the corporate form or modification of the legal regime that determines a change in the tax rate or tax regime concludes the tax period. In this case, the transition from a 1% rate to the general Corporate Tax rate and the change in collective investment institution regulations fulfill both requirements. The entity may be integrated into the tax consolidation group with immediate effect following the transformation. To apply the special merger regime, the operation must respond to valid economic motives and not have a tax advantage as its primary objective.

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