8. Pan-European individual pension products

Regulations: Fifty-second Additional Provision of Law Personal Income Tax

To the pan-European individual pension products regulated by Regulation ( EU ) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European individual pension product, The treatment that corresponds to pension plans will apply to them in Personal Income Tax .

In particular:

1. The saver's contributions to pan-European individual pension products may reduce the general tax base in the same terms as those made to pension plans and will be included in the joint maximum limit provided for in article 52 of the Personal Income Tax Law and for systems of social security.

2. The benefits received by the beneficiaries of the pan-European individual pension products will in any case be considered income from work and will not be subject to Inheritance and Gift Tax.

3. If the taxpayer had rights of economic content derived from contributions to pan-European individual pension products, totally or partially, in cases other than those provided for in the regulations on pension plans and funds, he must replace the reductions in the tax base unduly carried out, through the appropriate complementary self-assessments, including late payment interest. The amounts received that exceed the amount of the regularized contributions will be taxed as income from work in the tax period in which they are received.