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Net Financial Expense: 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 · 2016–2024

Current position

The variable commission must be included in the calculation of the net financial expense for the fiscal year to the extent that it corresponds to the difference between income and expenses of a financial nature. This treatment seeks to avoid tax asymmetries and maintain neutrality by relating to corporate indebtedness. The portion of the commission that offsets non-financial items is excluded from the limitation of article 16 of Law 27/2014 on the Corporate Income Tax (IS).

The DGT's position remains constant in its objective to avoid tax asymmetries through the comparison of homogeneous items. The evolution is observed in the transition from general criteria regarding accounting debt hedges (V4789-16) towards the specific application of the nature of the items in the case of variable commissions (V1858-24 to V1863-24).

Turning points

  1. V1858-24

    Introduces the application of the nature of the items criterion to variable commissions, determining that only the portion that offsets financial income and expenses is included in the net financial expense.

Analysis based on 8 of 8 rulings with a stated position. Updated 1 October 2026.

Rulings on this topic

8
V4789-16 10 Nov 2016

Debt hedging costs are included in the financial expense deductibility limit

SG de Impuestos sobre las Personas Jurídicas
cobertura contablegasto financiero netopartida cubiertainstrumento de coberturaimputación temporal LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 10LIS — Ley 27/2014 del Impuesto sobre Sociedades art. 11
Affects CompanyExpat · Non-residentIndividual

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