Skip to content
Back to index
V0480-24 27 March 2024 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · instituciones de inversión colectiva

No international fiscal transparency or income attribution applies to EU harmonised investment funds

The DGT confirms that investors in a Luxembourg harmonised investment fund are subject to the special regime for collective investment schemes.

The question raised

In relation to the taxation of investors in the aforementioned investment fund, resident in Spain, being taxpayers of Personal Income Tax and Corporate Tax, it is asked whether the international tax transparency regime, regulated in Article 100 of the Corporate Tax Law, and Article 91 of the Personal Income Tax Law, respectively, or the income attribution regime regulated in Articles 86 to 90 of the latter Law, could be applicable to them regarding their investments in said fund, as well as, in the event that said tax regimes were applicable to the aforementioned investors, the manner in which the consultant must determine the withholding base in the transfers or redemptions of the fund units carried out by them.

The DGT's ruling

For investors in collective investment undertakings regulated by Directive 2009/65/EC, domiciled in the EU and registered in the CNMV registry, the special regime under Articles 94.1 LIRPF and 53.1 LIS prevails. By virtue of the principle of specialty, the international tax transparency regimes and the income attribution regimes do not apply. For IRPF purposes, unit holders impute distributed results and capital gains or losses, whereas for IS purposes, companies include distributed profits and income from transfers or redemptions.

Book your free first meeting