Skip to content
Back to index
V1224-23 10 May 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IP · pacto de mejora

Assets received via improvement pacts are subject to Wealth Tax and Income Tax from the date of acquisition

A taxpayer inquired about the taxation of assets (a house and land) received through a succession improvement pact in Galicia. The DGT ruled that these assets must be included in Wealth Tax and subject to the imputation of real estate income for Income Tax purposes from the date of acquisition.

The question raised

Question raised: Taxation in Wealth Tax and Personal Income Tax.

The DGT's ruling

In Wealth Tax, assets received through a pact of improvement must be included in the tax return of the year in which they are acquired, as the tax accrues on December 31. In Personal Income Tax, the ownership of urban or rural real estate with buildings not used for economic activities generates imputed income from the date of acquisition of the assets.

Email
Contact