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V2190-19 16 August 2019 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · rendimientos del capital mobiliario

Sublease income is classified as income from movable capital if no economic activity exists

The taxpayer asks whether subleasing an industrial warehouse acquired through leasing constitutes an economic activity or income from movable capital. The DGT states that it will only be considered an economic activity if there is an organisation of production means and human resources. If it is not an economic activity, only financial interest may be deducted while the property is leased.

The question raised

Classification of the income obtained and deductibility of leasing installments, both during the periods in which the warehouse is leased and during the periods in which it is vacant and awaiting rental.

The DGT's ruling

The assignment of the use of the premises constitutes an economic activity if the taxpayer organizes, on their own account, means of production and human resources to produce or distribute goods or services. If these requirements are not met, the income is classified as income from movable capital. In the latter case, only the financial interest paid is deductible, but only during the periods in which the property is leased. The amortization of the lease right and the recovery of the cost of the asset are not deductible until the purchase option is exercised.

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