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V4399-16 14 October 2016 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · socimi

SOCIMIs must apply profit distribution percentages based on distributable profit under commercial law

A query was raised regarding whether the profit distribution percentages for SOCIMIs should be calculated based on the sum of positive and negative accounting results across all financial years. The Directorate General for Tax Affairs (DGT) ruled that these percentages must be applied to the amount of profit that is eligible for distribution in accordance with commercial law.

The question raised

1. Whether the percentages established in Article 6.1 of Law 11/2009 must be applied taking into account the sum of the positive and negative accounting results obtained in all fiscal years in which the SOCIMI regime was applicable.

The DGT's ruling

The profit obtained during the fiscal year must be distributed in the percentages set forth in Article 6.1 of Law 11/2009. To determine the amount to be distributed, one must first consider the amount of profit that, in accordance with commercial regulations, is eligible for distribution. The distribution percentages provided in the SOCIMI Law shall be applied to said commercially distributable amount.

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