Valuation of income from movable capital in kind
The recipient must compute, as total income, the result of adding the amount of the payment on account to the market value of the good, right or service received, except in cases where said payment on account has been passed on to him (Art. 43.2 Law PIT).
The advance payment must be determined by the person or entity paying this type of remuneration by applying the percentage corresponding to the result of increase by 20 percent the acquisition value or cost to the payer of the good, right or service delivered (Art. 103 Regulations) IRPFABBR).
The aforementioned data must appear in the certification that, for these purposes, the paying person or entity is obliged to provide to the recipient. In short, the total income corresponding to this type of remuneration will be determined as follows:
Gross income = Market value + Unreturned income on account
For the valuation of in-kind returns on movable capital derived from Enjoy free with a partner When considering the value of a company asset, one must take into account the purpose for which the asset was acquired:
In the event that the asset forms part of the company's assets intended for its exploitation in the course of their ordinary activities, With which the asset will have been acquired for that purpose (for its activities), the tax regularization must be carried out in accordance with article 41 of the Law of IRPFABBR, relating to related-party transactions. For example, this will happen when that company is dedicated to the purchase and sale of yachts and/or the rental of them for periods of time, and has several intended for that purpose, and the partner has free use of one of them for certain periods of time.
In contrast, when a partner in a company enjoys certain assets free of charge of that company, and it concerns assets that the company specifically has for that purpose, such as when the asset has been acquired specifically for the partner to enjoy without consideration (company with industrial activity), the regularization must be carried out in accordance with articles 25.1.d) and 43 of the Law of IRPFABBR. For example, when that company is a construction company, which has acquired the yacht precisely so that the partner can enjoy it without paying anything in return.
See the criteria set by the TEAC in its Resolution of September 24, 2025, Claim number 00/07312/2024, issued in an extraordinary appeal for the unification of criteria, which analyzes the second of the aforementioned cases.
Example:
On June 30, 2025, the financial institution “XX” delivers to Ms. BLH, for the deposit of 150,000 euros in a fixed term for 3 years, a computer equipment whose acquisition cost for the bank amounted to 1,200 euros. The computer is delivered at the time of imposition. The market value of this computer is 1,800 euros.
Determine the total income that Mrs. BLH must be entered in the declaration for this concept.
Solution:
The total taxable income from the delivery of the computer equipment will be:
Note to example:
(1) The income on account has been determined by the financial institution according to the following detail:
- Acquisition cost: 1,200.00
- 20% increase: 240,00
- Basis of income on account: 1,440.00
- Amount of the payment on account (19% s/1,440): 273.60
The withholding tax rate applicable in 2025 to income from the transfer of own capital to third parties is 19 percent. (Back)