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V3010-21 ·3 December 2021 ·consulta-vinculante Medium impact
Tax

Returns from individual life insurance are taxed as investment income without reduction

The taxpayer asks whether reductions can be applied to returns from a life insurance savings plan and how they should be reported. The DGT rules that no reduction is applicable as the requirements regarding seniority and the type of income are not met, and that temporal imputation occurs when the benefit becomes due.

In 6 key points

How it affects those involved

This ruling clarifies that life insurance savings products do not qualify for the specific tax reductions typically applied to long-term savings, as they are classified as investment income (rendimientos del capital mobiliario) rather than pension-style income.

Lifecycle

2021-12-03PublishedPublished 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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