Doctrine by topic · DGT Observatory

Counter-insurance: 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 8 rulings · 2019–2026

Current position

To qualify for the exemption on capital gains, individuals over 65 must allocate the amount obtained within six months to an insured life annuity with a limit of 240,000 euros. The contract must have an annual or shorter periodicity, and the annuity payments cannot decrease by more than 5% per year. If counter-insurance formulas are included, the limits and conditions of the ninth additional provision of the IRPF (Personal Income Tax) Regulations must be respected.

The DGT's position has remained constant over time. Consultations repeatedly confirm the application of the limits of the ninth additional provision of the Regulations to counter-insurance mechanisms, with no variations in the applied criterion.

Analysis based on 8 of 8 rulings with a stated position. Updated 13 October 2026.

Rulings on this topic

8
V0524-26 5 Mar 2026

Gains from property transfer exempt if reinvested in life annuities

SG de Tributación de las Operaciones Financieras
ganancias patrimonialesrenta vitaliciaexención por reinversióntransmisión de elementos patrimonialesentidad aseguradora LIRPF — Ley 35/2006 del IRPF art. 38.3RIRPF — RD 439/2007, Reglamento del IRPF art. 42
Affects CompanyExpat · Non-residentIndividual
V1544-25 27 Aug 2025

Reinvestment exemption in life annuities requires age of 65 or over

SG de Operaciones Financieras
ganancia patrimonialrenta vitaliciaexención por reinversióntransmisión de elementos patrimonialescontraseguro LIRPF — Ley 35/2006 del IRPF art. 38.3RIRPF — RD 439/2007, Reglamento del IRPF art. 42
Affects CompanyExpat · Non-residentIndividual

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