Skip to content
Back to index
V0618-25 2 April 2025 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · ganancia patrimonial

Exemption from capital gains from reinvestment in life annuities for those over 65

A taxpayer over 65 enquires about the conditions for applying the exemption resulting from reinvesting proceeds from the sale of a patrimonial asset into a life annuity. The DGT outlines the legal and regulatory conditions under which this exemption is valid.

The question raised

Requirements for applying the exemption for reinvestment in life annuities.

The DGT's ruling

To exclude capital gains, the amount obtained must be allocated within six months to an insured life annuity in favor of a taxpayer over 65 years of age. The contract must be entered into with an insurance entity, have an annual or shorter periodicity, and the annuities may not decrease by more than 5% annually. The maximum reinvestment limit for the exemption is 240,000 euros. If reversion mechanisms, certain periods, or reinsurance formulas exist, they must comply with the specific limits of the Personal Income Tax Regulations.

Book your free first meeting