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V0582-20 ·16 March 2020 ·consulta-vinculante Medium impact
Tax

No income from movable capital is imputed for unit-linked insurance if one is neither the policyholder nor the beneficiary

Members of an entity consulted on how the subscription of a unit-linked life insurance policy by said entity would be taxed under Personal Income Tax (IRPF). The Directorate General for Taxes (DGT) ruled that, as the consultants are neither the policyholder nor the beneficiary of the contract, they do not obtain income from movable capital.

In 6 key points

How it affects those involved

This ruling clarifies that participation in or association with an entity that holds unit-linked insurance policies does not trigger personal income tax on movable capital for the members, provided they do not hold the status of policyholder or beneficiary.

Lifecycle

2020-03-16PublishedPublished 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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