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Form 100. Personal Income Tax Return 2022

Life annuities

  1. Immediate life annuities

    In the case of immediate life annuities, which have not been acquired by inheritance, legacy or any other succession title, the result of applying the following percentages to each annuity will be considered as income from movable capital:

    • 40% when the recipient is under 40 years old.

    • 35% when the recipient is between 40 and 49 years old.

    • 28% when the recipient is between 50 and 59 years old.

    • 24% when the recipient is between 60 and 65 years old.

    • 20% when the recipient is between 66 and 69 years old

    • 8% when the recipient is over 70 years old.

    These percentages will correspond to the age of the annuitant at the time of establishing the annuity and will remain constant throughout its validity.

  2. Deferred life annuities

    When deferred life annuities are received, which have not been acquired by inheritance, legacy or any other succession title, the income from movable capital will be considered the result of applying to each annuity the corresponding percentage of those previously provided, increased by the profitability obtained until the creation of the annuity.

    The profit obtained until the creation of the income will be subject to taxation in accordance with the following rules:

    • The profitability will be determined by the difference between the current financial-actuarial value of the income that is created and the amount of the premiums paid.

    • This return will be distributed linearly over the first 10 years of collecting the life annuity. 

    If the income has been acquired by donation or any other legal transaction free of charge and inter vivos, the return on movable capital will be, exclusively, the result of applying to each annuity the corresponding percentage of those indicated above.