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Practical Manual of Companies 2020.

Tax system for entry-exit from the special SOCIMI tax system

Regulation: Article 12 Law 11/2009

1. Entities that are paying taxes under a different tax regime, and opt for the application of the special regime of the SOCIMI

They must act in the following way:

  • The tax adjustments pending reversal in the tax base at the time of application of this regime, will be integrated in accordance with the general regime and the general corporate tax rate.

  • The negative tax bases that were pending compensation at the time of application of this regime, will be offset with the positive income that, if applicable, is taxed under the general regime, in the established terms in article 26 of the LIS .

  • The income derived from the transfer of properties owned prior to the application of this regime, from the shares in other companies referred to in article 2.1 of Law 11/2009, as well as of the rest of the elements of the asset, carried out in tax periods in which the SOCIMI regime is applicable, will be understood to be generated, unless proven otherwise, in a linear manner during the time of holding the property, participation or other element of the asset transferred.

    As for the part of said income attributable to previous tax periods, it will be taxed applying the tax rate and the tax regime prior to the application of the SOCIMI regime.

  • The deductions in the full quota pending to be applied, will be deducted from the full quota that, if applicable, comes from the application of the general regime, in the terms established in Title VI of the LIS.

2. Entities that were paying taxes under the special SOCIMI regime and begin to pay taxes under another different regime.

The income derived from the transfer of real estate or shares in other entities referred to in article 2.1 of Law 11 /2009, owned at the beginning of the tax period in which the company becomes taxed under another different tax regime, carried out in tax periods in which that other regime is applicable, will be deemed generated, unless proven otherwise, linearly throughout the entire ownership period of the property or interest transferred.

As for the part of said income attributable to the tax period in which the SOCIMI regime was applicable, it will be taxed according to the provisions of Law 11/2009.