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V3452-20 ·27 November 2020 ·consulta-vinculante Medium impact
Tax

Transferring savings obtained abroad does not constitute a taxable event for Personal Income Tax

A query was raised regarding whether transferring savings earned through employment in the United States to Spain has tax implications. The Directorate General for Tax (DGT) ruled that the mere transfer of such funds does not constitute taxable income.

In 5 key points

How it affects those involved

This ruling clarifies that moving existing capital from abroad to Spain is not subject to taxation, provided the funds are not new income being earned during the tax year.

Lifecycle

2020-11-27PublishedPublished 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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