Scope

Regulation: Article 8 and First Transitional Provision Law 11/2009

Entities that meet the requirements established in Law 11/2009, of October 26, which regulates Listed Public Limited Companies for Investment in the Real Estate Market (hereinafter, SOCIMI), may choose to apply the special regime regulated in said Law, which will also be applicable to their partners.

The option must be adopted by the general meeting of shareholders and must be communicated to the Delegation of the State Tax Administration Agency of the tax domicile of the entity, before the last three months prior to the conclusion of the tax period.

The special tax regime will apply in the tax period that ends after said communication and in the successive periods that end before the renunciation of the regime is communicated.

These entities may opt for the application of the special regime, even when the requirements set out in Law 11/2009 are not met, provided that said requirements are met within two years following the date of the option to apply said regime.

Failure to with this condition will result in the company subject to the general corporate tax regime starting from the tax period in which said failure to comply occurs. In addition, the company will be obliged to pay, together with the amount for said tax period, the difference between the amount for said tax resulting from applying the general regime and the amount paid resulting from applying the special tax regime in previous tax periods, without prejudice to any late payment interest, surcharges and penalties that may be applicable.