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V3452-20 27 November 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · hecho imponible

Transferring savings obtained abroad does not constitute a taxable event for Personal Income Tax

A query was raised regarding whether transferring savings earned through employment in the United States to Spain has tax implications. The Directorate General for Tax (DGT) ruled that the mere transfer of such funds does not constitute taxable income.

The question raised

The tax treatment, under Personal Income Tax (IRPF), of the transfer to Spain of money saved in the United States of America is requested.

The DGT's ruling

The transfer of money originating from savings derived from work performed and taxed abroad does not constitute the acquisition of income pursuant to Article 6 of the Personal Income Tax Law (LIRPF). Notwithstanding, the taxpayer must substantiate the origin of the funds deposited into their bank account.

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