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ES - Withholding Tax on rights sales for individual Spanish investors

01/01/2017

From 1st January 2017, sales of rights from 1st January 2017 became subject to withholding tax. This measure applies only to individual Spanish Resident Investors.

From 1st January 2017, sales of rights from 1st January 2017 became subject to withholding tax. This measure applies only to individual Spanish Resident Investors. In the new regulations, the amount obtained from the transfer of subscription rights from securities admitted for trading is classified as a capital gain subject to withholding for the transferor in the tax period in which the transfer takes place, instead of the rule of reduction of cost, according to which the capital gain occurred at the time of the transfer of the securities. In this way, the treatment of quoted securities is placed on a par with the treatment applicable to securities not admitted to quoting on any secondary market, thus avoiding a fiscal deferral rule which is difficult to control.The new obligation of withholding falls on the depository, intermediary or notary public.

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