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Practical manual for Income Tax 2023.

a) Income obtained from the transfer of own capital to third parties

Examples include, but are not limited to:

  • Interest on accounts in all types of financial institutions, including those based on transactions in financial assets.

  • Interest, coupons and other periodic returns derived from fixed-income securities.

  • Interest on financial assets with effective retention of 1.2% by application of the bonus provided for in the sixth transitional provision of the LIS .

    The particularities of the deductible withholdings corresponding to said income are discussed in Chapter 18.

  • Interest derived from loans granted to third parties.

  • Income derived from temporary transfer of financial assets with repurchase agreement (REPOS). This is the name given to sales transactions that include a repurchase commitment, optional or non-optional, which is carried out at a time between the sale date and the redemption date. The most common "REPOS" are made on Obligations and Government Bonds.

  • Income paid by a financial institution as a result of the transmission, assignment or transfer, in whole or in part, of a credit owned by the latter. The income obtained by the transferee or purchaser is classified in all cases as income from movable capital.