7,2,3,1. Interest on accounts and deposits and on financial assets in general.

Full income

This section will include the consideration, whatever its name or nature, derived from accounts and deposits in all types of financial institutions, including those based on operations on financial assets.

The explicit interests obtained from any class of assets representative of the collection and use of foreign capital will also be recorded in this section.

If the performance has been received in kind, the market value of the goods or services received must be computed as full income. The payment on account will be added to this value, unless its amount has been passed on to the recipient of the income.

When the income comes from loans made to entities linked to the taxpayer , must be integrated into the general tax base , the interest corresponding to the excess amount of the own capital transferred to the entity with respect to the result of multiplying the own funds by 3 in the part that corresponds to the taxpayer's participation in the latter. 

The provision of goods or rights capable of generating income from movable capital will be presumed to be remunerated, unless proven otherwise. In the absence of proof to the contrary, the valuation of the estimated income will be carried out by applying the legal interest of the money that is in force on the last day of the tax period, 3% 100 for the year 2021.

Withholdings

Likewise, the withholdings made or payments on account made on the accrued income will be indicated in this section and will be transferred by the program to box 0597.

Deductible expenses (art. 26.1 Law)

• Interest on accounts and deposits:

  In no case may deductible expenses be computed with respect to these returns.

• Interest on financial assets:

  Exclusively the expenses of administration and deposit of negotiable securities will be recorded as deductible expenses.

  For these purposes, administration and deposit expenses will be considered those amounts passed on to investment services companies, credit institutions or other financial entities that, in accordance with Royal Legislative Decree 4/2015, of October 23, by the that the consolidated text of the Securities Market Law is approved has the purpose of remunerating the benefit derived from the performance, on behalf of its owners, of the deposit service for securities represented in the form of securities or the administration of securities represented in notations consider.

  The amounts that represent the consideration for discretionary and individualized management of investment portfolios, where there is a disposition of the investments made on behalf of the holders in accordance with the mandates conferred by them, will not be deductible.