Doctrine by topic · DGT Observatory

Fair Value: 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 46 rulings · 2014–2026

Current position

Income from grants received in kind is included in the tax base following the criterion of imputation to results of the 18th Accounting Standard of the General Accounting Plan (PGC). The right over the real estate must be valued at the fair value of the right received at the time of its recognition, in accordance with article 17.1 of the Law on Corporate Income Tax (LIS). The determination of said value is a matter of fact.

The DGT maintains a constant position based on the application of accounting regulations for the determination of fair value. Throughout the rulings, this concept has been applied both in the exchange of inventories and in the valuation of rights and grants in kind. No change in criterion is observed, but rather a repeated application of accounting to define the tax base.

Turning points

  1. V1348-15

    Establishes that in an exchange of inventories, the difference between the market value of the development right and the tax value of the land must be included.

  2. V0080-24

    Specifies that grants in kind are valued at the fair value of the right received at the time of its recognition according to the 18th NRV of the PGC.

Analysis based on 43 of 46 rulings with a stated position. Updated 23 September 2026.

Rulings on this topic

24
V2049-24 25 Sept 2024

Cash-based incentive plan expenses deductible in the year provision is made

SG de Impuestos sobre las Personas Jurídicas
pagos basados en instrumentos de patrimoniodevengoimputación temporalprovisióngastos de personal LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11
Affects CompanyExpat · Non-residentIndividual
V1807-22 29 Jul 2022

Staff costs for equity-settled transactions are only deductible upon delivery

SG de Impuestos sobre las Personas Jurídicas
pagos basados en instrumentos de patrimoniogastos de personaldeducibilidadentrega de instrumentosvalor razonable LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11.1
Affects CompanyExpat · Non-residentIndividual
V0348-19 19 Feb 2019

Voluntary property revaluations have no tax effects for Corporate Income Tax

SG de Impuestos sobre las Personas Jurídicas
revalorización contablebase imponiblevalor razonableinmovilizado materialmemoria LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 17.1LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 122
Affects CompanyExpat · Non-residentIndividual
V5469-16 28 Dec 2016

Fiscal treatment of debt forgiveness between a parent and 100% owned subsidiary

SG de Impuestos sobre las Personas Jurídicas
condonación de deudaaportación a fondos propiosderechos de créditovalor razonablecoste amortizado LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11
Affects CompanyExpat · Non-residentIndividual
V4476-16 18 Oct 2016

Gains from fair value assessment of negotiation portfolios may qualify for exemption

SG de Impuestos sobre las Personas Jurídicas
consolidación fiscalvalor razonablecartera de negociaciónexención por doble imposicióntransmisión de participaciones 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
V1113-16 21 Mar 2016

VAT on pre-activity expenses deductible if intent to carry on business proven

SG de Impuestos sobre las Personas Jurídicas
deducibilidadvalor razonableactividad económicaoperaciones vinculadasdevengo LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10.3LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11.1
Affects CompanyExpat · Non-residentIndividual

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