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V2301-16 24 May 2016 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · rendimientos del trabajo

Services of partners in investment management societies deemed as earnings from work

The DGT determines that services provided by partners and administrators in closed collective investment societies are not considered economic activities and should be taxed as earnings from work.

The question raised

A consultation is made regarding the taxation under Personal Income Tax for the remuneration corresponding to the services provided by the partners to the company, taking into account the new wording given to Article 27 of the Personal Income Tax Law by Law 26/2014.

The DGT's ruling

Remuneration for the position of director is always considered income from employment. For a partner's services to be taxed as an economic activity, the activity must be listed in the Second Section of the IAE and the partner must be registered under the self-employed regime. In this case, as the management of investment entities is exclusive to public limited companies, the requirement for economic activity is not met and the income is taxed as income from employment.

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