CFTLs transfer in distressed M&A - Abstract Nº:1 / 2019

CFTLs transfer in distressed M&A

Abstract:

The purpose of this paper is to analyze the legal framework and functioning of the business transfers during an insolvency procedure, including the transfer of the carry forward tax losses (CFTLs) together with the business. It also analyzes the current understanding of the Spanish General Directorate of Taxes (DGT), in relation to these transactions with CFTLs, and shows the proper interpretation in the author’s opinion.

Keywords: M&A, Distressed M&A, BINs