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V1674-23 13 June 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IVA · traspaso de cartera

The sale of an insurance agent's client portfolio is subject to VAT at 21% and generates a capital gain or loss for Personal Income Tax purposes

An insurance agent inquires about the taxation of the transfer of their client portfolio following retirement. The DGT determines that the transaction is subject to VAT at the general rate and that the sale constitutes a capital gain or loss for Personal Income Tax purposes.

The question raised

Question posed: Taxation of the transaction for VAT and Personal Income Tax purposes.

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