Deductible expenses: administration and deposit

Regulations: Art. 26.1 a) Law Personal Income Tax

To determine the net income of the capital corresponding to this type of income, the administration and deposit of the shares or participations that represent the participation in the own funds of entities may be deducted exclusively, without the deduction of any other concept of income being admissible. spent.

For these purposes, administration and deposit expenses will be considered those amounts that are passed on to investment services companies, credit institutions or other financial entities that, in accordance with Royal Legislative Decree 4 /2015, of October 23, which approves the consolidated text of the Securities Market Law ( BOE of October 24), whose purpose is to remunerate the benefit derived from the carrying out, on behalf of its holders, the deposit service of securities represented in the form of securities or the administration of securities represented in book entries.

Precision: Although article 26.1.a) of the Personal Income Tax Law refers to Law 24/1988, of July 28, on the Securities Market, it must be taken into account that the sole Additional Provision of the Real Legislative Decree 4/2015, of October 23, establishes that the normative references made in other provisions to Law 24/1988, of July 28, of the Securities Market, will be understood to be made to the corresponding precepts of the consolidated text that approves the cited Royal Legislative Decree 4/2015 .

The following will not be deductible:

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.