Doctrine by topic · DGT Observatory

Uninterrupted Holding: 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

Settled doctrine High confidence 12 rulings · 2015–2020

Current position

To qualify for the exemption on positive income from the transfer of shares, it is required to hold at least 5% of the capital or equity continuously during the year prior to the transfer. If the investee entity derives more than 70% of its income from capital income or dividends, the exemption requires the taxpayer to maintain an indirect holding that meets the percentage or acquisition value requirements. For entities resident in Spain, it is not necessary to comply with the requirement of taxation abroad.

The DGT's position remains constant regarding the requirement of uninterrupted holding during the previous year to access the exemption. The rulings confirm the application of direct and indirect holding requirements depending on the nature of the investee entity's income. No changes are observed in the interpretation of the concept of uninterrupted holding throughout the sequence.

Analysis based on 11 of 12 rulings with a stated position. Updated 30 September 2026.

Rulings on this topic

12
V2717-19 4 Oct 2019

Exemption on the transfer of shares may apply if Article 21 LIS requirements are met

SG de Impuestos sobre las Personas Jurídicas
exencióntransmisión de participacionesentidad patrimonialrenta positivaporcentaje de participación LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 21.1LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 21.3
Affects CompanyExpat · Non-residentIndividual
V2101-19 9 Aug 2019

Requirements for applying the special non-cash contribution regime

SG de Impuestos sobre las Personas Jurídicas
aportación no dinerariarégimen especial de reestructuracióncanje de valoresmotivos económicos válidosfondos propios LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 80.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 87.1
Affects CompanyExpat · Non-residentIndividual
V1292-16 30 Mar 2016

Requirements for applying the special regime for non-monetary contributions

SG de Impuestos sobre las Personas Jurídicas
aportación no dinerariarégimen especialfondos propiosmotivos económicos válidostenencia ininterrumpida LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 87LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 89.2
Affects CompanyExpat · Non-residentIndividual

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