V0260-24: VAT implications of donating leased industrial property to family member – AEAT consultation.

• Donating an industrial property leased to the donee is considered self-consumption subject to VAT
• The donation may be subject to VAT and not exempt if it is a first transmission of a completed building, and subject to VAT and exempt in subsequent transmissions
• The donation of the industrial property by the donor to their son, who is the current tenant, is considered a self-consumption operation
• The donation will be considered a first delivery and subject to VAT at the general rate of 21%
• The taxable base will be the normal market value due to the relationship between the donor and the donee
• The AEAT offers a service called “Real Estate Qualifier” to provide assistance and information on indirect taxation of real estate transactions.

Source: audiconsultores-etlglobal.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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