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V0486-24 ·4 April 2024 ·consulta-vinculante Medium impact
Tax

Interest from joint accounts is attributed to the actual owner of the deposited funds

A query was raised regarding how to individualise interest from a bank account held under joint ownership where the majority of funds belong to one spouse. The Directorate-General for Taxes (DGT) ruled that formal ownership recorded by the bank does not determine the ownership of the funds; rather, ownership depends on the source of the money.

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2024-04-04PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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