News published in INFORMA 2018

New features introduced in the INFORMA programme during NOVEMBER

An entity, resident in Spain, has an ownership interest in the entire capital of two other entities, also resident, whose corporate purpose is leasing, which it carries out indirectly through its subsidiaries, which outsource the management of the same. These carry out an economic activity and if all the requirements of article 21 LIS are met, the exemption would apply to positive income derived from the transfer of participating entities.

An entity whose activity is crowdfunding, which consists of using digital platforms to put investors in contact with companies seeking loans, must be understood to meet the requirements set out in article 5.1 of the LIS for the purposes of determining that the entity carries out an economic activity.

A newly created entity whose activity is to be property development but which only carries out roof repair work, cleaning and installation of beams before transferring the property to another developer is subject to the reduced rate for newly created companies.

With effect for tax periods beginning on or after 10 November 2018, the tax debt on Property Transfers and Documented Legal Acts will not be considered a tax-deductible expense when it concerns mortgage loan deeds in which the taxpayer is the lender.