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V1315-19 ·6 June 2019 ·consulta-vinculante Medium impact
Tax

Funds in joint accounts of spouses under community property regime taxed in Inheritance Tax based on origin and ownership

A taxpayer inquired whether funds in a joint current account, deposited from his salary, belonged solely to him and should therefore be exempt from Inheritance Tax following his wife's death. The Directorate-General for Taxes (DGT) ruled that balances in joint accounts do not automatically imply shared ownership, but rather that the origin of the funds determines legal ownership.

In 6 key points

How it affects those involved

This ruling clarifies that the nature of the funds (separate vs. community property) takes precedence over the formal designation of a joint account when determining the taxable estate.

Lifecycle

2019-06-06PublishedPublished 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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