Individualization of income from movable capital

Regulations: Art. 11.3 Law Income Tax

Income from movable capital corresponds to taxpayers who are owners of the assets, property or rights from which said income comes. Therefore, the aforementioned holders will be the ones who must include the corresponding income in their personal income tax return.

When the ownership of the assets or rights is not duly accredited, the Tax Administration shall have the right to consider as the owner the person who appears as such in a tax register or in any other public register.

In cases where ownership of the assets or rights corresponds to several persons, the income will be considered to be obtained by each of them in proportion to their participation in said ownership. Consequently, each of the co-owners must declare as total income and deductible expenses the amounts resulting from applying, respectively, to the total income and expenses produced by the asset or right in question, the percentage that represents their participation in the ownership of the same.

Remember : In the case of marriages, the income from assets and rights that, in accordance with the provisions regulating the economic regime of the marriage, are common to both spouses, will correspond equally to each of them (unless a different share of participation is justified). On the contrary, income from assets or rights that, in accordance with the same rules, are the exclusive property of either of the spouses, will correspond entirely to that spouse.