We inform you about the tax queries answered by the General Directorate of Taxes during the month of January 2024.

Inquiry number: V0001- 24

• Description of facts: The consulting entity is an association of collective investment institutions and pension funds. Section 2.c) of the forty-first transitional provision of the Corporate Tax Law regulates for partners of variable capital investment companies (SICAV) that have agreed to its dissolution and liquidation in accordance with the provisions of said transitional provision, a tax deferral regime for income derived from the liquidation of the company linked to the reinvestment, within a specific period, of the total money or assets that make up the liquidation fee, in units or shares of certain collective investment institutions. Once the award of money or assets in payment of the liquidation fee to the partners has been made, new assets may appear, supervening assets, such as, for example, recovery of excess withholding on dividends paid abroad, amounts received under of class actions, interests derived from remuneration of creditor balances in current accounts, or remainders of the amounts consigned in compliance with commercial regulations for the payment of debts or expenses of the dissolution and liquidation of the SICAV, which, because they do not exist or are undetermined at the time of liquidation, were not counted in the partners' liquidation fee, so their award will be made at a later time.

• Question raised: If the amounts corresponding to these supervening assets are outside the framework of application of the transitional reinvestment regime, being subject to the general ordinary tax regime in the personal tax of the partner as income from the dissolution and liquidation of the SICAV. Or in the event that said amounts must be reinvested, specification of the tax aspects of said reinvestment, including those related to the reporting obligations to the Tax Administration.

Inquiry number: V0002-24

• Description of facts: The consultant, a participant in three pension plans with contributions prior to 2007, terminated his employment relationship on December 31, 2021 as a result of an Employment Regulation File. He became legally unemployed on January 1, 2022. It intends to rescue the pension plans.

• Question raised: Period available to apply the 40 percent reduction contemplated in the transitional regime.

Inquiry number: V0003-24

• Description of facts: It is described in the question consulted.

• Question raised: If the contribution of certain private assets, free of charge, to the community property implies the existence of a property alteration in the seat of the contributing spouse, susceptible to taxation in the Personal Income Tax.

You can access the collection of DGT queries at Query DGT database