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A query was raised regarding whether lump-sum unemployment benefits received to start self-employment are exempt from Personal Income Tax (IRPF) and whether the purchase of fixed assets is deductible. The Directorate General for Taxes (DGT) ruled that the benefit is exempt provided the activity is maintained for five years, and that fixed assets are deductible through depreciation.
Question raised: Whether the unemployment benefit received as a single lump sum is exempt from Personal Income Tax. Additionally, the possibility of deducting the purchase of fixed assets as business expenses is consulted.
Unemployment benefits paid in a single lump sum are exempt from Personal Income Tax (IRPF) provided they are used for the intended purposes and self-employment activity is maintained for five years. The acquisition of fixed assets is not a direct expense; rather, its deductibility is realized through the depreciation of the assets used for the activity. The calculation of depreciation will depend on the estimation method applied (direct or simplified) and the rules of Corporate Tax or the corresponding depreciation tables.
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