Fusión inversa internacional, ¿supuesto de enajenación indirecta de acciones?.
Date
2024-05-09
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Pontificia Universidad Católica del Perú
Abstract
En la presente investigación se analiza si la fusión inversa internacional,
entendida como el supuesto en donde una subsidiaria absorbe a su matriz,
puede gatillar un supuesto de enajenación indirecta de acciones gravado con el
Impuesto a la Renta en el Perú. La razón de esta investigación nace, a partir de
últimos pronunciamientos de SUNAT, donde la Administración Tributaria ha
concluido que esta transacción sí podría gatillar una operación gravada en el
país.
Para tal efecto, se explora el régimen actual de imposición frente a las ganancias
de capital, como una manifestación de la teoría de flujo riqueza, para determinar
si las reorganizaciones societarias podrían constituir operaciones comprendidas
dentro de esta teoría de renta adoptado por la legislación peruana en el artículo
1 de la Ley del Impuesto a la Renta. Asimismo, se analiza la característica de
“onerosidad” regulada por la normativa tributaria como característica intrínseca
de una “enajenación”.
A partir de lo examinado, se concluirá que, en la fusión inversa internacional, no
constituye una operación susceptible de generar renta bajo la teoría de flujo de
riqueza, no pudiendo ser calificada como una “enajenación” por la falta de
onerosidad. En consecuencia, no genera un supuesto de enajenación indirecta
de acciones gravado con el Impuesto a la Renta en el Perú.
This research analyzes whether the international reverse merger, understood as the case where a parent company merges into its subsidary, can trigger a case of indirect alienation of shares taxed with Income Tax in Peru. The reason for this investigation arises from recent pronouncements by SUNAT (Peruvian Tax Authority), where it has concluded that this transaction could trigger a taxable operation in the country. For this purpose, the current tax regime for capital gains is explored, as a manifestation of the wealth flow theory, to determine if corporate reorganizations could constitute operations included within this theory of income adopted by Peruvian legislation in Article 1 of the Income Tax Law. Likewise, the characteristic of “onerousness” regulated by tax regulations is analyzed as an intrinsic characteristic of a “disposal.” From what has been examined, it will be concluded that the international reverse merger does not constitute an operation capable of generating income under the wealth flow theory and cannot be classified as an “alienation” due to the lack of onerousness. Consequently, it does not generate a case of indirect disposal of shares subject to Income Tax in Peru.
This research analyzes whether the international reverse merger, understood as the case where a parent company merges into its subsidary, can trigger a case of indirect alienation of shares taxed with Income Tax in Peru. The reason for this investigation arises from recent pronouncements by SUNAT (Peruvian Tax Authority), where it has concluded that this transaction could trigger a taxable operation in the country. For this purpose, the current tax regime for capital gains is explored, as a manifestation of the wealth flow theory, to determine if corporate reorganizations could constitute operations included within this theory of income adopted by Peruvian legislation in Article 1 of the Income Tax Law. Likewise, the characteristic of “onerousness” regulated by tax regulations is analyzed as an intrinsic characteristic of a “disposal.” From what has been examined, it will be concluded that the international reverse merger does not constitute an operation capable of generating income under the wealth flow theory and cannot be classified as an “alienation” due to the lack of onerousness. Consequently, it does not generate a case of indirect disposal of shares subject to Income Tax in Peru.
Description
Keywords
Derecho tributario--Jurisprudencia--Perú, Impuesto a la renta, Fusión de empresas--Legislación--Perú