What taxation have our funds?

Thus pay taxes for them.


The investment funds are one of the vehicles financial more sued among the investors Spanish. Why? Allow invest in different assets financial, with different combinations and taking care of different risk profiles . Moreover, have a taxation favorable for the participant. From BBVA want explain you the key points that owe know with regard to this last one
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Transfers without fiscal impact

There is a wide range of investment funds (fixed-income, equities, mixed, global, etc). A variety that allows adjust the funds in which invests depending on the needs to which wishes give response and of the risk that is prepared to assume at all times. 

This it can do without has fiscal impact one, provided that it contract as individual living in Spain and fulfill a series of requirements. And is that, the transfer between investment funds not pays taxes at the time , but differs your tax payment up to now of your reimbursement or transmission definite. This means that the gains or losses obtained in the fund origin not surface when carry out the transfer. Additionally that new shares subscribed keep the value and the date of acquisition of the shares gone through. 

This way, and thanks to one of the major attributes of the funds, the participant (individual resident) is who decides when carries out so much the gains or losses of the fund as the support of the taxation of the same.

Fiscal impact in the sale of shares

The sale of shares of a fund carried out for a resident individual considers a gain or loss patrimonial subjected, in the event of be positive, to retention. This does that is part of the basis of assessment of the saving of the PERSONAL INCOME TAX, paying taxes as follows:

  • Up to €6,000: 19%.
  • Between 6,000€ and 50,000€: 21%.
  • More than 50,000€: 23%.

If hoorays in Basque Country, the stretches in percentage terms change:

  • Up to €2,500: 20%.
  • Between 2,500 and 10,000€: 21%.
  • Between 10,000 and 15,000€: 22%.
  • Between 15,000 and 30,000€: 23%.
  • More than 30,000: 25%.

And, in the case of Navarre, also differ of the usual ones:

  • Up to €6,000: 20%.
  • Between 6,000 and 10,000€: 22%.
  • Between 10,000 and 15,000€: 24%.
  • From 15,000€ hereinafter: 26%.

Must take into account, also, that a gain or loss understands as the difference between the value of purchase and that one of sale. If carries out a party selling of the fund, to fiscal effects, consider transmitted which acquired in the first place (criterion FIFO: first in first out). 

These gains and losses generated for the funds can compensate between yes, as well as happens with the rest of the within the section of Capital gains and losses in the base of the saving. Moreover, and result of the tax reform of 2015, is possible compensate them with the outputs of movable capital (with a limit of 25% of one with regard to the other) also comprehensive in this basis of assessment of the saving. If followed having losses, has the option of compensate them in the 4 next years.

Last of all, we must emphasize that the production of a sale for surface losses not can be computed if has purchased the same asset two months earlier or two months later.

Deductible expenditures

When carries out the sale of an investment fund, the law of PERSONAL INCOME TAX allows deduce of the benefit obtained the subscription fee and reimbursement. Is necessary to take into account provided that, in most cases, the company already has discounted these expenses to the facilitate us the amount resulting from the operation.
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The goodwill of the casualty

This tax advantage happens in the moment in which inherit investment funds. Can take into account also to the distribute the assets for the succession. Thanks to this figure, theirs not have to pay taxes for the accumulated profits for the deceased deep down of investment

And is that to the inherit the fund, consider that the purchase price of this corresponds to the net asset value of the same one on the death. There is this tax advantage in the PERSONAL INCOME TAX, given that the capital invested deep down already is subject to tax payment in the Tax of Successions.

The funds are a good choice, so much for the richness of assets in which can invest as for the tax advantages that take ragged.
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