How to reflect Inversa earnings in the IRPF

As in previous years, we have prepared the following article to try to clarify in a practical way how we interpret that the earnings obtained in Inversa should be reflected in the 2022 IRPF declaration and thus help our Investors.

In INVERSA Invoice Market, as a platform, we do not practice any type of withholding, so you will not see this information reflected in your tax information.

Profits obtained are taxed as capital gains in the 2022 IRPF for the difference between the amount redeemed and the resulting net invested amount obtained by subtracting from our investment the amounts received in advance. Therefore, the gain is not realized until the investor cashes the invoice. From our point of view, investment in invoices should be treated as the purchase of securities and not as loans.

For this interpretation, we base it on the fact that in the assignment of credits by which we communicate to the debtor their payment obligation to the assignee, it implies that, at the time of payment, it is made by a third party (the debtor) and not by the assignor, which entails its treatment as a capital gain.

Instructions for the year 2022 to declare the capital gains obtained from investments made in Inversa through the AEAT Website - RENTA WEB Platform:

First, we go to page 15(II)/page 16(I) of form 100, as shown in RENTA WEB – “F2. Gains and losses from the transfer of assets (to be included in the taxable income of savings) (continued)” specifically in the section "Gains and losses derived from the transfer of other assets".

Once here, we click on box 1626 “Type of asset”.

Next, we must check the fourth box “Other assets (property or rights) not allocated to economic activities"

Now, we just need to enter the specific data of the operations carried out. From investor accounts, you can download the tax information from your profile for the entire year to be declared, both in PDF and Excel formats.

For simplicity, in our tax summary, we have introduced aggregated values to avoid having to list all the operations.

In this way, we must allocate the following values:

·        Transmission date: 12/31/2022

·        Transmission value: Total amount shown as “Amount collected” in our tax report

·        Acquisition date: 01/01/2022

·        Acquisition value: Total amount shown as “Amount invested” in our tax report

This way, the amount of net capital gains for the year must match exactly what is reflected as such in our tax report.

* Note: INVERSA Invoice Market does not provide tax advice. This is an informative and non-binding article, and in case of doubt, potential investors are advised to consult an independent advisor.