LOS MOTIVOS ECONÓMICOS VÁLIDOS Y LA VENTAJA FISCAL A REGULARIZAR EN OPERACIONES DE REESTRUCTURACIÓN EMPRESARIAL.

The General Tax Directorate has recently followed the courts' criteria regarding the effects of regularising transactions falling within the scope of the tax neutrality regime applicable to mergers and other reorganisations. It analyses whether the regularisation of a stock exchange transaction could lead to the taxation of deferred capital gains under the tax neutrality regime. In its consultation, the public authority clarifies that the antiabuse rule under the neutrality regime requires a comprehensive examination of the transaction and cannot be automatically triggered in the absence of valid economic reasons. Moreover, in these cases, the deferral inherent to the neutrality regime cannot constitute the tax benefit that would be removed following a regularisation by the audit and control bodies. [ABSTRACT FROM AUTHOR]