Temporary income

1. Immediate temporary income

   In the case of immediate temporary income, which has 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:

   • 12% when the income has a duration of less than or equal to five years.

   • 16% when the income has a duration greater than five and less than or equal to ten years.

   • 20% when the income has a duration greater than ten and less than or equal to fifteen years.

   • 25% when the income has a duration of more than fifteen years.

2. Deferred temporary income

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

   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 profitability will be distributed linearly over the years of its duration with a maximum of 10 years.

   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.