Taxation of FCPE units: employment income and capital gains

The Dirección General de Tributos (DGT) has issued a relevant ruling regarding the tax treatment of units in Collective Occupational Pension Funds (FCPE) when these are integrated into the worker's assets as part of their remuneration.

What the DGT has ruled

The ruling analyzes the nature of operations linked to FCPE units. The criteria establish a clear distinction between two differentiated tax moments:

• The delivery of units: When the worker receives these units as part of their remuneration, their value is considered employment income in kind.
• The transfer or redemption: At the moment the holder transfers or requests the redemption of said units, the result obtained is classified as a capital gain or loss derived from the transfer of assets.

Furthermore, the issue of applying reductions for irregular income is addressed, determining that the nature of the operation at the time of transfer is capital-related, which excludes the application of such reductions specific to employment income.

What this means for you

This ruling directly impacts workers who are part of international savings plans or who receive units in savings funds as part of their employment relationship. The distinction is fundamental for the correct settlement of IRPF, as:

• The initial income is taxed in the general base as employment income.
• The profit obtained from the sale or redemption is taxed in the savings base.

For employees of foreign groups with occupational pension plans, understanding this duality avoids errors in the income tax return and ensures that each movement is assigned to the correct taxable base according to Law 35/2006.

What you should do

It is necessary to analyze the remuneration structure and the type of fund received to ensure that the integration into the general base and the savings base is carried out accurately. Since the nature of the operation changes depending on the stage of the unit's life cycle, it is recommended to assess each particular situation to determine the exact tax impact on the income tax return.