Tax
Regime
8
72
STRUCTURE ORGANISATION AND OPERATION
OF THE SPANISH SECURITIES MARKET
C. Tax guide for financial products
Summary of the main fiscal conditions for a selection of financial products with regard to Personal
Income Tax (IRPF).
Tax
treatment
Taxable
base
Tax rate
(4)
Withholding
NOTES
ACCOUNTS, FIXED-TERM DEPOSITS AND OTHER DEPOSITS
Current accounts, savings books or accounts
II
Saving (4) 21%-25%-
27% 21%
Fixed-term deposits and other deposits
II
Saving (4) 21%-25%-
27% 21%
INVESTMENTS IN PUBLIC DEBT
Treasury bills
II
Saving (4)
21%-
NO
Sovereign bonds and debentures (periodic interest or coupon)
II
Saving (4) 21%-25%-
27% 21%
Sovereign bonds and debentures (transfer, redemption, repayment,
exchange or conversion)
II
Saving (4) 21%-25%-
27%
NO
INVESTMENTS IN CORPORATE FIXED-INCOME SECURITIES AND DEBT
Commercial paper
II
Saving (4) 21%-25%-
27% 21%
Mortgage-backed securities
II
Saving (4) 21%-25%-
27% 21%
Mortgage-backed securities (transfer, redemption or repayment)
II
Saving (4) 21%-25%-
27%
NO
Bonds and debentures (interest or coupons)
II
Saving (4) 21%-25%-
27% 21%
Bonds and debentures (transfer or redemption)
II
Saving (4) 21%-25%-
27%
NO
SHARES
Dividends
II
Saving (4) 21%-25%-
27% 21%
The first €1,500 is tax exempt, unless it
involves the same shares bought and sold two
months before or after the dividend payment.
Premium for attending a shareholders’ meeting
II
Saving (4) 21%-25%-
27% 21%
Share issue premium or participations
II
Saving (4) 21%-25%-
27%
NO
Share transfer and sale
CG
Saving (6)
Marginal
rate/21%
-25%-27%
NO Capital gains generated before January 20, 2006
can benefit from tax reduction coefficients.
Transfer of pre-emptive subscription rights
CG
Saving (6)
Marginal
rate/21%-
25%-27%
NO
The sales price reduces the cost of acquisition
of the shares, and if it exceeds the acquisition
price, the difference is taxed as a capital gain.
1...,62,63,64,65,66,67,68,69,70,71 73,74,75,76,77,78,79,80,81,82,...83