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V0770-20 7 April 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · patrimonio protegido

Subsequent contributions to protected assets must be formalised via public deed

The inquirer asks whether cash contributions made via bank transfer to a protected asset fund require a public deed to qualify for the Personal Income Tax (IRPF) reduction. The Directorate General for Tax (DGT) responds that subsequent contributions must comply with the same formal requirements as the initial establishment of the assets.

The question raised

Whether, for the purposes of applying the reduction provided for in Article 54 of the Tax Law, monetary contributions made by the taxpayer to the protected assets subsequent to its constitution must be reflected in a public deed or whether the accreditation of the bank transfer performed would suffice.

The DGT's ruling

To apply the tax benefits for contributions to protected assets, these must comply with the requirements of Law 41/2003. According to said law, contributions of assets and rights subsequent to the constitution must be subject to the same formalities as the constitution, which requires a public document authorized by a notary or a judicial resolution.

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