Skip to main content
Practical Handbook for Companies 2021

Special features of the tax system

Regulation: Article 9 Law 11/2009

The SOCIMI that opt for the application of this special tax regime shall be governed by the provisions of the Corporate Income Tax Act, without prejudice to the special provisions laid down in Act 11/2009:

  1. They will be taxed at the corporate income tax rate of 0 percent.

  2. In the event that they generate tax losses, they will not be able to apply the provisions of Article 26 of the LIS.

  3. Nor may they apply the system of deductions and allowances established in Chapters II, III and IV of Title VI of the LIS.

  4. In the event that fails to comply with the 3-year permanence requirement, referred to in Article 3.3 of Law 11/2009 or when, for whatever reason, the taxpayer switches to a different corporate income tax regime before the end of that period:

    • In the case of properties, this will imply taxation of all the income generated by these properties in all the tax periods in which this special regime would have been applicable, in accordance with the general regime and the general corporate income tax rate.

    • In the case of shares or holdings, this will involve taxation of that part of the income generated on the transfer, in accordance with the general regime and the general rate of corporation tax.

    All these regularisations will be carried out in accordance with the provisions of article 125.3 of the LIS.

  5. The dividends or shares in profits distributed by SOCIMIs in respect of which the special regime foreseen for these entities has been applied will be subject to withholding or payment on account, when the recipient is a taxpayer of Corporation Tax, of IRNR with and without permanent establishment or of IRPF.

    There is no obligation to withhold when the recipient is an entity that meets the requirements for the application of Law 11/2009.