Doctrine by topic · DGT Observatory

Guaranteed Capital: DGT doctrinal evolution

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

← DGT Observatory

How the DGT's position has evolved

Settled doctrine High confidence 12 rulings · 2014–2024

Current position

The tax base for the gradual AJD (Stamp Duty) installment is the amount of the obligation or guaranteed capital. This base includes the outstanding capital, interest, indemnities, penalties for breach, and other analogous concepts. If the amount of the guaranteed sum is not stated, it shall be determined using the capital plus three years of interest as the base.

The DGT's position remains constant regarding the determination of the tax base for the gradual AJD installment. Throughout the rulings, it has been reiterated that the base is the guaranteed capital plus accessory concepts, regardless of whether it involves loan assignments, appraisal modifications, or sub-mortgages. The only novelty is the supplementary rule for determining the base when the guaranteed amount is not stated.

Turning points

  1. V2123-24

    Introduces a rule for determining the tax base in the absence of data: the base shall be the capital plus three years of interest.

Analysis based on 11 of 12 rulings with a stated position. Updated 27 September 2026.

Rulings on this topic

12
V2123-24 1 Oct 2024

Sub-mortgage to secure fees subject to ITPAJD if not subject to VAT

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
subhipotecaderecho realbase imponibletransmisiones patrimonialescapital garantizado TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 7.BTRITPAJD — RDLeg 1/1993 de ITP y AJD art. 10.1
Affects CompanyExpat · Non-residentIndividual
V0016-18 9 Jan 2018

Mortgage subrogation is not subject to AJD tax, but changes to valuation are

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
subrogación hipotecarianovación modificativacuota gradualhecho imponiblevalor de tasación TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 4TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 7
Affects CompanyExpat · Non-residentIndividual
V1078-17 9 May 2017

Changes to mortgage valuation are subject to Stamp Duty (AJD)

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
actos jurídicos documentadosbase imponiblecapital garantizadovalor de tasaciónescritura pública TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 30.1TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 31.2
Affects CompanyExpat · Non-residentIndividual
V0338-17 8 Feb 2017

Changes to mortgage valuation are subject to Stamp Duty

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
actos jurídicos documentadosvalor de tasaciónbase imponiblecapital garantizadohipoteca TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 30.1TRITPAJD — RDLeg 1/1993 de ITP y AJD art. 31.2
Affects CompanyExpat · Non-residentIndividual

Apply this to your case

Real-estate taxation (transfer tax)Talk to the team applying this doctrine daily.
Property Purchase CalculatorEstimate the impact on your case in two minutes.
Talk to the tax teamWe check whether this criterion affects you and what it means in your situation.
Email
Contact