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V0052-23 16 January 2023 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · seguro sobre la vida

Tax benefits under the fourth transitional provision of Law 29/1987 cannot apply if the insurance was contracted after its entry into force

The inquirer asks whether tax benefits from the fourth transitional provision of Law 29/1987 can be applied to a life insurance policy. The DGT rules that this is not possible because the policy was taken out after the law had already come into effect.

The question raised

Question raised: Whether, at the time of his father's death, the applicant could apply the tax benefits established by the fourth transitional provision of Law 29/1987.

The DGT's ruling

The fourth transitional provision of Law 29/1987 only allows for the maintenance of tax benefits if the contract was entered into prior to the publication of the draft of said Law. Given that the insurance policy was taken out in March 1988, when Law 29/1987 was already in force, the benefits of the transitional provision cannot be accessed.

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