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V2344-25 3 December 2025 · SG de Fiscalidad Internacional Criterion in force
IRNR · entidad en régimen de atribución de rentas

A Swiss contractual fund may be deemed a rental attribution entity in Spain

The DGT confirms that a Swiss contractual fund, not taxing itself in Switzerland and attributing income to investors, constitutes a rental attribution entity and may benefit from the tax exemption under the double taxation treaty if it proves its status.

The DGT's ruling

The Swiss FCP fund is considered an entity under the pass-through regime for the purposes of Non-Resident Income Tax due to its analogous nature. As it is not a taxpayer of a personal tax in Switzerland and attributes income to its investors, the fund may invoke the Spanish-Swiss Convention. If it proves its residence in Switzerland and its status as a recognized fund or pension plan, it may benefit from the dividend exemption provided for in Article 10.2.c) of the Convention.

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