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V2648-24 26 December 2024 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · régimen transitorio

The 40% reduction can only be applied to one lump-sum withdrawal per retirement contingency

A taxpayer inquired whether the 40% reduction for contributions made prior to 2007 could be applied to two separate partial withdrawals from the same pension plan in different years. The Directorate General for Tax Affairs (DGT) ruled that the reduction may only be applied once per contingency, although the taxpayer may choose which tax year to exercise this right within the legal timeframe.

The question raised

1. Possibility of applying the 40 percent reduction provided for in the transitional regime to two partial redemptions from the same pension plan in the 2023 and 2024 fiscal years.

The DGT's ruling

The 40% reduction under the transitional regime applies to benefits received as a lump sum for the same contingency. As it concerns a single retirement contingency, the reduction can only be applied to one of the redemptions made from the same plan. The taxpayer may choose the fiscal year in which to apply said reduction, provided it is within the period of the two fiscal years following that of the contingency. Carrying out plan transfers for the sole purpose of applying the reduction in different fiscal years could be classified as simulation or conflict in the application of the tax rule.

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