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V1185-25 1 July 2025 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · contrato de cuentas en participación

Returns from a participation account contract are classified as returns from movable capital

The consultant asks about the tax treatment of the amount invested in a participation account contract to obtain a tobacco licence. The DGT responds that amounts received and the settlement of the contract's result are classified as returns from movable capital.

The question raised

Treatment in Personal Income Tax (IRPF) of the amount invested when the license expires.

The DGT's ruling

The contributions of the participant pass to the ownership of the manager, therefore the transfer of funds constitutes a transfer of own capital to third parties. The returns obtained are classified as income from movable capital pursuant to Article 25.2 of Law 35/2006. The result of the contract shall be a positive or negative return determined by the difference between the amounts received upon expiration of the contract and the contributions made.

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