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V1602-24 ·1 July 2024 ·consulta-vinculante Medium impact
Tax

The 40% reduction cannot be applied to more than one lump-sum withdrawal for the same contingency

A retiree with contributions made prior to 2007 enquired whether the 40% reduction could be applied to several partial lump-sum withdrawals. The Directorate General for Taxes (DGT) ruled that the reduction can only be applied once per contingency, although the taxpayer may choose which tax year to apply it in within the legal timeframe.

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2024-07-01PublishedPublished 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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