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V3845-15 2 December 2015 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · mutualidad de previsión social

Amounts from the liquidation of a social welfare mutual fund are taxed as employment income

A taxpayer has enquired about the tax treatment of amounts received following the dissolution and liquidation of their social welfare mutual fund. The Directorate General for Taxes (DGT) rules that these amounts are classified as employment income and explains how to apply transitional tax regimes.

The question raised

Tax treatment corresponding to the amounts to be received as a consequence of the dissolution and liquidation of the social welfare mutual fund.

The DGT's ruling

The amounts received from the liquidation of a social welfare mutual fund are considered earned income pursuant to Article 17.2.a).4 of Law 35/2006. For contributions made up to 1998, the regime of the second transitional provision applies, incorporating the amount exceeding the non-reduced contributions or, if these cannot be proven, 75% of the benefit. For contributions made up to 2006, the 40% reduction may be applied if received as a lump sum and two years have elapsed since the first contribution, provided that the terms of the twelfth transitional provision are met.

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