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V1778-15 8 June 2015 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos del capital mobiliario

Fiscal reductions and temporary tax relief not applicable to unit-linked life insurance withdrawals

The consultant asks whether reductions can be applied to the return obtained from withdrawing from a life insurance policy taken out in 2001. The DGT responds that the return must be included in the savings tax base without applying any reductions or temporary tax relief.

The question raised

Whether the aforementioned reductions may be applied to the income obtained from the surrender of the insurance.

The DGT's ruling

Income from capital perceptions in life insurance contracts is taxed under Personal Income Tax (IRPF) as income from movable capital included in the savings tax base. No reduction percentage is applicable. Furthermore, the tax compensation provided for in the thirteenth transitional provision of Law 35/2006 was repealed with effect from January 1, 2015.

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