Treasury indicates the problem of sharing a bank account

At the end of August, a couple made a query to the General Directorate of Taxes, the governing body of the Ministry of Finance. This couple wanted to transfer the money they had in an account to their son's, arguing that in their firstborn's account this capital would give them a higher return. In this case, the 3 would be the owners of the account, however, the money only belongs to the parents. Tributos points out that the return that the money deposited in the child's account gives in the future must be taxed in the Declaration of the Income as a return on movable capital. But the treasury clarifies, in this case, that the parents must prove to the Tax Agency that the money is only theirs. If you do not do so, the child of the marriage will also pay tax on the return on that capital. Proving the ownership of the funds, the key “The return to be obtained by the consultant must be attributed to whoever owns the asset that generates it, that is That is, to whoever is the owner of the capital that is deposited in the credit institution. The ownership of a bank account in principle entails ownership of the money deposited in it, however, this circumstance may be undermined if it is proven that the real ownership corresponds to one or more of the owners, a matter that must be proven by whoever wants to do so. assert that right” confirms the Treasury resolution. Consequently, the General Directorate of Taxes explains that it must be proven that the ownership of the funds belongs exclusively to the couple. That is, being in an account in which the three people are owners, the Tax Agency considers both the spouses and the child of both as benefactors of the return on the money deposited and, therefore, all three would be taxed on the benefits of the account. deposit unless they clarify them.Follow the Diario AS channel on WhatsApp, where you will find all the sport in a single space: the news of the day, the agenda with the latest news of the most important sporting events, the most outstanding images, the opinion of the best AS signatures, reports, videos, and some humor from time to time.