Doctrine by topic · DGT Observatory

Assets Used in Business: 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 14 rulings · 2015–2026

Current position

For assets to benefit from exemption, they must be used in an economic activity carried out on a regular, personal, and direct basis, serving as the main source of income. In the leasing of real estate, it is required to employ at least one person under a full-time employment contract and to personally assume management. Financial resources from the lending of capital are not considered assets used in the business, whereas bank balances require an allocation proportional to the needs of the activity.

The DGT maintains the requirement of business use according to VAT (IVA) regulations to avoid the presumption of tax avoidance intent in the transfer of securities. The position has become more demanding regarding the determination of economic activity, now requiring the hiring of full-time staff for real estate leasing. Likewise, it has been specified that the lending of capital does not constitute an asset used in the business.

Turning points

  1. V1914-22

    Establishes that for real estate leasing to constitute an economic activity, at least one person must be employed under a full-time employment contract.

  2. V0135-26

    Determines that the lending of capital to third parties is not considered an asset used in the economic activity.

Analysis based on 13 of 14 rulings with a stated position. Updated 26 September 2026.

Rulings on this topic

14
V0126-26 27 Jan 2026

Properties leased may be exempt from Wealth Tax if specific conditions met

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
exenciónactividad económicaarrendamiento de inmueblesprincipal fuente de rentabienes afectos LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 4.Ocho.UnoReal Decreto 1704/1999 (RIP)
Affects CompanyExpat · Non-residentIndividual
V1914-22 8 Sept 2022

Delegation of asset management prevents Wealth Tax exemption

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
exenciónactividad económicaarrendamiento de inmueblesejercicio personal y directobienes afectos LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 4.Ocho.UnoReal Decreto 1704/1999
Affects CompanyExpat · Non-residentIndividual
V0197-22 7 Feb 2022

Potential Wealth Tax exemption for assets used in professional activities

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
exenciónbienes afectosactividad profesionalprincipal fuente de rentaparticipaciones en entidades LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 4.Ocho.UnoLIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 4.Ocho.Dos
Affects CompanyExpat · Non-residentIndividual
V2813-20 17 Sept 2020

Corporate Tax exemption denied for the transfer of land not used for corporate purposes

SG de Impuestos sobre las Personas Jurídicas
entidad parcialmente exentaasociación sin ánimo de lucroexención por reinversióntransmisión onerosabienes afectos LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 5.1LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 9.3
Affects CompanyExpat · Non-residentIndividual
V3070-19 31 Oct 2019

Exemption from Wealth Tax maintained for assets used in active retirement

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
exenciónjubilación activaactividad económicaprincipal fuente de rentabienes afectos LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 4.Ocho.UnoLGT — Ley 58/2003 General Tributaria art. 89.1
Affects CompanyExpat · Non-residentIndividual
V3136-15 16 Oct 2015

The receipt of a retirement pension does not prevent the exemption from Wealth Tax

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
exenciónactividad empresarialprincipal fuente de rentapensión de jubilaciónbienes afectos LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 4.Ocho.UnoLISD — Ley 29/1987 de Sucesiones y Donaciones art. 20.6
Affects CompanyExpat · Non-residentIndividual

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