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V1098-21 27 April 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · cláusula suelo

Floor clause refunds and compensatory interest are not included in the tax base

A taxpayer inquired whether amounts received from floor clause refunds for previous years must be taxed. The DGT ruled that these amounts and their associated interest are not included in the tax base, although adjustments to tax deductions may be required.

The question raised

Question posed: Whether the amounts to be refunded must be taxed in 2020, given the taxpayer's consideration that they are prescribed.

The DGT's ruling

The refund of amounts due to floor clauses and their compensatory interest shall not be included in the tax base. If such amounts were part of the basis for deductions (primary residence or regional deductions) or were deductible expenses in non-prescribed tax years, the situation must be regularized. Regularization consists of adding the unduly deducted amounts, without late payment interest, to the state and regional net tax liability. Regularization is not applicable if the amounts are applied directly to reduce the principal of the loan or if the tax years are already prescribed.

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