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V1580-24 1 July 2024 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · usufructo

Right of usufruct must be included in Wealth Tax returns

A taxpayer inquired about the tax implications of donating the bare ownership of a property to their child while retaining the usufruct. The Directorate General of Taxes (DGT) ruled that the taxpayer must declare the value of the usufruct right they hold.

The question raised

Cuestión planteada Tributación de la operación en el Impuesto sobre el Patrimonio.

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