Skip to content
V1696-16 ·19 April 2016 ·consulta-vinculante Medium impact
Tax

Premiums for health insurance linked to a bank deposit are not exempt from Personal Income Tax (IRPF)

A query was raised regarding whether health insurance offered by a financial institution when opening a bank deposit qualifies for exemption as benefits in kind. The Directorate General for Taxes (DGT) ruled that these premiums constitute returns on movable capital rather than employment income.

In 6 key points

How it affects those involved

This ruling clarifies that health insurance premiums linked to banking products are taxed as investment income (movable capital) instead of being treated as tax-exempt benefits in kind from employment.

Lifecycle

2016-04-19PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

Does this provision affect you?

The tax team reviews your specific situation.

Talk to the tax team
This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
Email
Contact