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V1076-19 21 May 2019 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · titularidad de disposición

Joint account ownership does not determine money ownership or equal distribution

A taxpayer inquired about the tax implications of depositing personal funds into a joint account held with their spouse. The DGT clarified that the authority to withdraw funds from a bank does not equate to legal ownership of the assets, which must be proven based on the source of the funds.

The question raised

The tax implications that the described operation would have.

The DGT's ruling

The right of disposal in joint accounts only grants management powers towards the bank, but does not establish a condominium or ownership of the funds. Ownership depends on the original belonging of the money and must be proven irrefutably. If there is a transfer of ownership of the money to the other person, the taxable event for Inheritance and Gift Tax will occur.

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