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V2295-23 31 July 2023 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · rendimientos del trabajo

Tax treatment of employment income from the management of funds linked to entrepreneurship

A private equity association asks about the application of new LIRPF additional provision 53. The DGT clarifies that carried interest-linked bonds may benefit from the 50% integration regime and outlines how withholdings should be calculated.

The question raised

Various issues detailed in the text of the response.

The DGT's ruling

Foreign entities similar to those venture capital firms under the LECR may be considered analogous investment vehicles. Bonds or incentives derived from special economic rights may be integrated into the tax base at 50% if the minimum profitability and five-year maintenance requirements are met. Partial collections do not preclude the regime provided that the maintenance period is completed. Withholding tax shall be applied to 50% of the yields subject to this treatment.

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