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V2811-17 2 November 2017 · SG de Tributación de las Operaciones Financieras Criterion in force
IRNR · residencia fiscal

Transfer of funds between current accounts does not constitute income

A Canadian resident wishes to transfer funds from a withdrawn pension plan to a Spanish entity after moving to Spain. The DGT states that movements between accounts do not constitute income.

The question raised

Whether said transfer is subject to taxation.

The DGT's ruling

The transfer of funds from one current account to another does not constitute the acquisition of income. Therefore, if the transfer is carried out while being a resident in Canada, it is not subject to Non-Resident Income Tax. If it is carried out while being a resident in Spain, it is not subject to Personal Income Tax.

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