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

Query 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 Income Tax Law regulates, for shareholders of variable capital investment companies (SICAV) that have agreed to their 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 all money or assets that make up the liquidation quota, in shares or stocks of certain collective investment institutions. Once the allocation of money or property in payment of the liquidation fee to the partners has been made, new assets may appear, assets that have arisen, such as, for example, recovery of excess withholding on dividends borne abroad, amounts received in the framework of collective lawsuits, interest derived from remuneration of creditor balances in current accounts, or remainders of the amounts recorded in compliance with commercial regulations for the payment of debts or expenses of the dissolution and liquidation of the SICAV, which, because they did not exist or were undetermined at the time of liquidation, were not computed in the liquidation fee of the partners, so that their allocation will be made at a later time.

• Question raised: If the amounts corresponding to these acquired assets fall outside the scope of application of the transitional reinvestment regime, they are subject to the ordinary general tax regime in the partner's personal tax 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 relating to reporting obligations to the Tax Authority.

Query 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 a Layoff Plan. He became legally unemployed on January 1, 2022. It intends to carry out the rescue of pension plans.

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

Query number: V0003-24

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

• Question raised: If the contribution of certain private assets, free of charge, to the community property implies the existence of an alteration in the assets of the contributing spouse, which may be subject to personal income tax.

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