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Tax Deferral: 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

Stable position High confidence 16 rulings · 2014–2026

Current position

The tax neutrality regime in mergers requires that the operation has valid economic motives and does not have a tax advantage as its main objective. In cases of credit rights against the Administration, the deferral under DT 41.2.c) of the LIS (Corporate Income Tax Law) is possible if the remainder of the quota is reinvested within the legal period, allowing the credit to be reinvested once it becomes effective. In SICAV mergers, the transfer of shares is not assimilated to the deferral by reinvestment under DT 41ª of the LIS.

The DGT's position remains constant in requiring economic motives against the abuse of tax advantage. The reinvestment periods for credit rights against the Administration have been specified, and the inapplicability of deferral by reinvestment in transfers derived from SICAV mergers has been delimited.

Turning points

  1. V2887-15

    Establishes that if the tax advantage is preponderant over economic motives, article 89.2 of the LIS is applied to eliminate the effects of the deferral.

  2. V3204-23

    Clarifies that the transfer of shares in funds following SICAV mergers is not assimilated to the regime of the 41st transitional provision of the LIS.

Analysis based on 16 of 16 rulings with a stated position. Updated 26 September 2026.

Rulings on this topic

16
V0016-26 8 Jan 2026

A rental business contribution may qualify for fiscal neutrality

SG de Impuestos sobre las Personas Jurídicas
neutralidad fiscalrama de actividadunidad económica autónomaaportación no dinerariareestructuración empresarial LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.4
Affects CompanyExpat · Non-residentIndividual
V0001-24 22 Jan 2024

Assets arising from SICAV liquidation may be reinvested to preserve tax deferral

SG de Tributación de las Operaciones Financieras
sicavrégimen de reinversiónactivos sobrevenidoscuota de liquidacióndisolución y liquidación LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 29.4.aLIS — Ley 27/2014 del Impuesto sobre Sociedades art. 29.4.b
Affects CompanyExpat · Non-residentIndividual
V3204-23 12 Dec 2023

Share transfers after SICAV merger not covered by DT 41 LIS deferment rule

SG de Tributación de las Operaciones Financieras
fusión por absorcióndisposición transitoria cuadragésima primeradiferimiento fiscaltraspaso de participacionessicav LIRPF — Ley 35/2006 del IRPF art. 37.1.eLIRPF — Ley 35/2006 del IRPF art. 94
Affects CompanyExpat · Non-residentIndividual
V2214-23 27 Jul 2023

Fiscal advantage in share swaps distinct from inherent tax deferral

SG de Impuestos sobre las Personas Jurídicas
canje de valoresneutralidad fiscalventaja fiscalmotivos económicos válidosdiferimiento fiscal LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 76.5LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 80.1
Affects CompanyExpat · Non-residentIndividual
V0873-22 22 Apr 2022

Fiscal deferment allowed for SICAV despite credit rights not being reinvested

SG de Tributación de las Operaciones Financieras
sicavcuota de liquidaciónderechos de créditorégimen de reinversióndiferimiento fiscal LIS — Ley 27/2014 del Impuesto sobre Sociedades art. disposición transitoria cuadragésima primera.2.c)Ley 35/2003
Affects CompanyExpat · Non-residentIndividual
V1029-18 24 Apr 2018

Exchange regime possible if voting majority, residency and economic motives met

SG de Impuestos sobre las Personas Jurídicas
canje de valoresrégimen especialderechos de votomotivos económicos válidosparaísos fiscales LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 76.5LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 80.1
Affects CompanyExpat · Non-residentIndividual
V3712-15 25 Nov 2015

A merger may qualify for tax deferral if it has valid economic reasons

SG de Impuestos sobre las Personas Jurídicas
fusiónrégimen especialmotivos económicos válidosdiferimiento fiscalreestructuración LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 76.1.a
Affects CompanyExpat · Non-residentIndividual
V1077-15 8 Apr 2015

Contribution of a business activity may qualify for LIS special regime

SG de Impuestos sobre las Personas Jurídicas
aportación no dinerariarama de actividadrégimen especialmotivos económicos válidosdiferimiento fiscal LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 76.4LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 87
Affects CompanyExpat · Non-residentIndividual

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