Exemption

Regulations: Art. 38.3 Law Income Tax ; art. 42 and Additional Provision nine Regulation IRPF

Capital gains that arise from the transfer of assets by taxpayers over 65 years of age are exempt from tax, provided that the total amount obtained from the transfer is used to create an insured life annuity in their favor. ##

Please note that the exemption for reinvestment in life annuities is also applicable to capital gains derived from the transfer of assets assigned to economic activities, as well as those obtained through entities in the attribution of income when the member of the entity makes the reinvestment in compliance with the required conditions.