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V1072-22 13 May 2022 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos del capital mobiliario

Life insurance survival benefits are taxed exclusively under the policyholder's Personal Income Tax

A policyholder who is also the insured party under a life insurance policy taken out in 1989 has enquired about the taxation of survival benefits received upon maturity. The Directorate General for Taxes (DGT) has ruled that the income belongs solely to the policyholder, regardless of their matrimonial property regime.

The question raised

Individualization of the income generated.

The DGT's ruling

The return on movable capital is determined by the difference between the capital received and the premiums paid. As it is a survival benefit, the income is attributed exclusively to the applicant as the holder of the right according to the rules of legal ownership. For insurance policies contracted before 1999, the transitional regime of the fourth transitional provision of the LIRPF must be applied to calculate the corresponding reductions.

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