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 Law 6/2023 , of March 17, of the Securities Markets and Investment Services ( BOE of March 18), have the purpose of remunerating the benefit derived from the realization, on behalf of their holders, of the deposit service of securities represented in the form of securities or of the administration of securities represented in account 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, said reference must be understood to be made to Law 6/ 2023, of March 17, of Securities Markets and Investment Services ( BOE of March 18).

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.