Doctrine by topic · DGT Observatory

Transfer of Own Funds: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Settled doctrine High confidence 29 rulings · 2014–2026

Current position

Income obtained from the transfer of own funds to third parties is classified as income from movable capital included in the savings tax base. In joint account contracts (cuentas en participación), the participant is taxed on the difference between the amount received and the amount contributed, while for the manager, these constitute expenses or business income. Bonuses for customer loyalty are also considered income from the transfer of own funds subject to withholding tax.

The DGT's position remains constant in classifying the income as movable capital. The doctrine has increasingly applied this concept to more diverse types of operations, ranging from the amortization of loans and preferred shares to joint accounts and loyalty bonuses. No changes in criteria are observed, but rather an extension of the application of article 25.2 of the Personal Income Tax Law (LIRPF) to new scenarios.

Turning points

  1. V1646-22

    Establishes that in joint accounts, the participant's contributions constitute a transfer of own funds to the manager, classifying the income as movable capital according to article 25.2 LIRPF.

  2. V5176-26

    Extends the classification of income from movable capital to bonuses paid by an entity to increase customer loyalty through investment operations.

Analysis based on 29 of 29 rulings with a stated position. Updated 24 September 2026.

Rulings on this topic

24
V5176-26 15 Jul 2026

Bonus from fund transfers taxed as mobile capital income

SG de Tributación de las Operaciones Financieras
rendimientos del capital mobiliariobonificacióntraspaso de fondosbase imponible del ahorrocesión de capitales propios LIRPF — Ley 35/2006 del IRPF art. 25.2LIRPF — Ley 35/2006 del IRPF art. 46
Affects CompanyExpat · Non-residentIndividual
V0993-26 5 May 2026

No obligation to report loans on financing platforms without representative securities

SG de Tributos
modelo 720financiación participativacesión de capitales propiosvalores representativosobligación de información LGT — Ley 58/2003 General Tributaria art. disposición adicional decimoctavaRGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42 bis
Affects CompanyExpat · Non-residentIndividual
V0983-25 10 Jun 2025

Spain's Bank of Spain transfer fee reduces Treasury bills' capital return

SG de Tributación de las Operaciones Financieras
rendimientos del capital mobiliarioletras del tesoroamortizacióngastos accesoriosvalor de reembolso LIRPF — Ley 35/2006 del IRPF art. 25.2LIRPF — Ley 35/2006 del IRPF art. 25.2.b
Affects CompanyExpat · Non-residentIndividual
V1744-24 16 Jul 2024

Profits from joint venture agreements are taxed as income from movable capital

SG de Impuestos sobre la Renta de las Personas Físicas
cuentas en participaciónrendimientos del capital mobiliariocesión de capitales propiosactividad económicagestor LIRPF — Ley 35/2006 del IRPF art. 25.2LIRPF — Ley 35/2006 del IRPF art. 14
Affects CompanyExpat · Non-residentIndividual
V0736-24 16 Apr 2024

Sale of government bonds classified as income from movable capital

SG de Tributación de las Operaciones Financieras
rendimientos del capital mobiliariocesión de capitales propiostransmisión de valoresvalor de transmisiónvalor de adquisición LIRPF — Ley 35/2006 del IRPF art. 25.2.bLGT — Ley 58/2003 General Tributaria art. 89.1
Affects CompanyExpat · Non-residentIndividual
V3209-23 12 Dec 2023

Bonuses for direct debiting salary are taxed as income from movable capital

SG de Tributación de las Operaciones Financieras
rendimiento del capital mobiliariocesión de capitales propiosbase imponible del ahorroretencióndomiciliación de nómina LIRPF — Ley 35/2006 del IRPF art. 25.2LIRPF — Ley 35/2006 del IRPF art. 46
Affects CompanyExpat · Non-residentIndividual
V0453-21 3 Mar 2021

No mandatory to declare participatory financing loans without representative securities

SG de Tributos
modelo 720financiación participativacesión de capitales propiosvalores representativoscuenta ómnibus RGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42.bisRGAT — RD 1065/2007, Reglamento General de Actuaciones Tributarias art. 42.ter
Affects CompanyExpat · Non-residentIndividual
V3535-19 23 Dec 2019

Repo contract returns classified as capital gains from share capital transfer

SG de Tributación de las Operaciones Financieras
cesión temporal de activos financierospacto de recomprarendimientos del capital mobiliariocesión de capitales propiosretención TRLIRNR — RDLeg 5/2004 del IRNR art. 13TRLIRNR — RDLeg 5/2004 del IRNR art. 13.3
Affects CompanyExpat · Non-residentIndividual
V1801-17 10 Jul 2017

Interest from private loans must be taxed as income from movable capital

SG de Impuestos sobre la Renta de las Personas Físicas
rendimientos del capital mobiliariocesión de capitales propiosinteresesperíodo impositivoexigibilidad LIRPF — Ley 35/2006 del IRPF art. 25.2LIRPF — Ley 35/2006 del IRPF art. 14.1.a
Affects CompanyExpat · Non-residentIndividual
V2155-15 14 Jul 2015

Lease income reduces the tax group's net financial expenses

SG de Impuestos sobre las Personas Jurídicas
gastos financieros netosbeneficio operativoarrendamiento financieroconsolidación fiscalingresos financieros TRLIS Texto Refundido Ley Impuesto sobre SociedadesLIS — Ley 27/2014 del Impuesto sobre Sociedades art. 16
Affects CompanyExpat · Non-residentIndividual

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