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V0364-14 13 February 2014 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · reserva para inversiones en canarias

It is possible to request correction of self-assessment to apply advance investments to RIC

The consultant asks whether investments made in 2011 can be counted as realization of the investment reserve for Canary Islands (RIC) funded with that year's profits. The DGT states that the rule allows advance investments and that the taxpayer may request correction of their self-assessment.

The question raised

To determine whether the assets suitable for the materialization of the RIC acquired by the taxpayer in the year 2011 could be considered a materialization of the investment reserve funded with profits obtained in the 2011 tax period.

The DGT's ruling

The regulations allow for early investments that are considered a materialization of the RIC funded with profits from the period of the investment or the three following periods. The interested party may request the rectification of their Personal Income Tax self-assessment if they consider that it has harmed their legitimate interests. It is the responsibility of the Administration to determine the appropriateness of said rectification after assessing the factual elements.

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