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Practical Income Manual 2019.

Individual savings plans

Regulations: Art. 7.y) and Additional Provision third Law Personal Income Tax

Exempt are the income that becomes evident at the time of the constitution of insured annuities resulting from the individual systematic savings plans referred to in the third Additional Provision of the Law of IRPF , as well as in the transformation of certain life insurance contracts into individual systematic savings plans under the terms and with the requirements established in the provision fourteenth transitional law of the Personal Income Tax Law

See in chapter 5 the comments on the individual systematic savings plans.