Doctrine by topic · DGT Observatory

Tax Value of the 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 9 rulings · 2014–2021

Current position

Dividends corresponding to the difference between the acquisition price and the value of the contributions are not included in the taxable base and reduce the tax value of the holding. To apply the deduction of the 23rd DT of the LIS (Corporate Income Tax Law), it must be proven that an equivalent amount was included in the taxable base of the IS (Corporate Income Tax) or the IRPF (Personal Income Tax) of the previous transferors. The deduction shall be proportional if the proof of previous inclusion is partial.

The DGT's position remains constant regarding the treatment of dividends as a return of contributions that reduce the tax value. Since 2016, the doctrine has focused on the application of the 23rd DT of the LIS and Article 21 of the LIS for the deduction for internal double taxation. The evolution shows a consolidation of the evidentiary requirements to prove the previous taxation of the transferors.

Turning points

  1. V0246-16

    Establishes the application of the deduction under Article 30.6 of the TRLIS (Revised Text of the Corporate Income Tax Law) linked to the proof that the dividend corresponds to the premium paid and its previous inclusion in the IRPF.

  2. V0923-16

    Distinguishes the application regime between dividends from previous fiscal years and those from fiscal years after 2015, where Article 21 of the LIS and the 23rd DT apply.

Analysis based on 8 of 9 rulings with a stated position. Updated 29 September 2026.

Rulings on this topic

9
V0660-21 22 Mar 2021

Eligibility for the DT 23rd LIS deduction on dividends relating to paid goodwill

SG de Impuestos sobre las Personas Jurídicas
doble imposición internasobreprecioexención de dividendosdisposición transitoriagrupo fiscal LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 21LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 71
Affects CompanyExpat · Non-residentIndividual
V0264-16 25 Jan 2016

Double taxation relief may be applied to dividends that reduce the tax value of a holding

SG de Impuestos sobre las Personas Jurídicas
doble imposiciónvalor fiscal de la participacióndeducción por doble imposiciónrégimen transitoriodividendos LIS — Ley 27/2014 del Impuesto sobre Sociedades art. Disposición Transitoria Vigésima TerceraTRLIS — RDLeg 4/2004 (derogado por la Ley 27/2014) art. 28
Affects CompanyExpat · Non-residentIndividual
V0246-16 25 Jan 2016

Right to dividend tax relief for premiums paid on the acquisition of shares

SG de Impuestos sobre las Personas Jurídicas
deducción por doble imposición internasobreprecioconsolidación fiscalrégimen transitoriovalor fiscal de la participación TRLIS — RDLeg 4/2004 (derogado por la Ley 27/2014) art. 30.4.eTRLIS — RDLeg 4/2004 (derogado por la Ley 27/2014) art. 30.6
Affects CompanyExpat · Non-residentIndividual

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