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V0498-22 14 March 2022 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · hecho imponible

Holding personal funds in a joint account does not, in itself, constitute a gift for Inheritance and Gift Tax purposes

The applicant asks whether keeping inherited money in a bank account held jointly with their partner constitutes a gift. The DGT rules that joint ownership only grants access to the funds but does not transfer ownership of them.

The question raised

Whether maintaining inherited money deposited in a joint account constitutes a donation by the taxpayer and her mother to the taxpayer's partner and must be taxed under the Inheritance and Gift Tax.

The DGT's ruling

The mere deposit of money into a jointly held account does not imply a donation if the requirements of the Civil Code are not met: impoverishment of the donor, enrichment of the donee, intent of liberality, acceptance, and formalities. Joint ownership only means that any of the holders has dispositive powers towards the bank, but it does not determine the ownership of the funds nor does it create a community of property.

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