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Acquisition of Shares: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Refined position High confidence 10 rulings · 2015–2024

Current position

Advisory expenses for the acquisition of shares are not deductible if they are not incorporated into the price of the services provided by the holding company to its subsidiaries. For general expenses to be deductible, their cost must form part of the constituent elements of the price of the transactions that entitle the right to deduction. Such acquisition costs are not considered to be part of the management services provided.

The DGT's position has shifted from focusing on the application of deductibility limits for financial expenses (Articles 15 and 16 of the Law on Corporate Income Tax [LIS]) and the application of transitional provisions, to establishing specific criteria regarding the deductibility of advisory expenses. Current doctrine requires that acquisition costs be integrated into the price of management services to be deductible.

Turning points

  1. V5070-16

    Establishes that expenses from debts with group entities to acquire shares are deductible if valid economic reasons are proven, such as debt restructuring.

  2. V1640-24

    Introduces the requirement that advisory expenses for acquisition must be incorporated into the price of the holding company's services to be deductible.

Analysis based on 10 of 10 rulings with a stated position. Updated 28 September 2026.

Rulings on this topic

10
V1677-18 13 Jun 2018

Limitations on the offsetting of tax loss carryforwards apply as of 2015

SG de Impuestos sobre las Personas Jurídicas
bases imponibles negativascompensación de basesadquisición de participacionesrégimen transitorioentidad adquirida LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 25LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 26.1
Affects CompanyExpat · Non-residentIndividual
V1487-18 31 May 2018

Offsetting tax losses depends on meeting activity and entity nature requirements

SG de Impuestos sobre las Personas Jurídicas
bases imponibles negativascompensación de basesadquisición de participacionesactividad económicaentidad patrimonial LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 5.2LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 25
Affects CompanyExpat · Non-residentIndividual
V3503-15 13 Nov 2015

Acquisition of shares on the same date for the same purpose is considered a single act

SG de Impuestos sobre las Personas Jurídicas
unidad de actopréstamos participativosgastos financierosratio de financiaciónadquisición de participaciones LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 16LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 16.5
Affects CompanyExpat · Non-residentIndividual
V1664-15 28 May 2015

Application and mechanics of financial expense deductibility limits (arts. 15.h and 16 LIS) and transitional regime for participative loans and pre-June 2014 acquisition operations

SG de Impuestos sobre las Personas Jurídicas
gastos financierosdeducibilidadbeneficio operativoadquisición de participacioneslímite de deducibilidad LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 15.hLIS — Ley 27/2014 del Impuesto sobre Sociedades art. 16.1
Affects CompanyExpat · Non-residentIndividual

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