The Supreme Court has ruled in three judgments dated 18 May 2020 on the taxation of a contribution of mortgaged real estate to a company that assumes the outstanding debt, concluding that there are two different taxable events.<\/p>\n\n\n\n
According to the ITP-AJD law, the incorporation of a company through the contribution of real estate is subject to and exempt from ITP-AJD in its corporate operations modality, however, the controversy arose when said real estate was encumbered with a real estate mortgage that the company assumed.<\/p>\n\n\n\n
The Supreme Court creates jurisprudence by concluding that in the event that the properties are mortgaged, the company assumes the outstanding debt, we would be dealing with two different conventions<\/strong>on the one hand, a company formation transaction<\/strong> subject to the company operations<\/strong> and another operation of allotment in payment of debt assumption<\/strong>subject to the modality transfer of property for valuable consideration<\/strong> for immovable property that is surrendered upon assumption of the mortgage debt encumbering it.<\/p>\n\n\n\n The High Court considers that in the present case there are \".two indicators of economic capacity<\/em><\/strong> perfectly identifiable: the contribution of the properties \"at their net value\" (i.e. net of the outstanding debt) and the assumption of the debt for the mortgage loan still encumbering the properties contributed\".<\/em><\/p>\n\n\n\n The Court therefore concludes as indicated, i.e. that the incorporation of a company by contribution of mortgaged property<\/strong>when the assumption of the outstanding mortgage debt takes place, it implies the existence of two conventions, subject to<\/strong> to \"corporate transactions\" and \"transfer of assets for consideration\".<\/p>","protected":false},"excerpt":{"rendered":" El Tribunal Supremo se ha pronunciado sobre la tributaci\u00f3n de una operaci\u00f3n de aportaci\u00f3n de inmuebles hipotecados a una sociedad que asume la deuda pendiente, concluyendo que existen dos hechos imponibles distintos.<\/p>","protected":false},"author":3,"featured_media":5262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,14,17],"tags":[6,23,19],"yoast_head":"\n