Spain: Changes to the tax applicable to sales of rights on Spanish Scrip dividends
Reference
Clearstream Banking1 would like to inform customers that effective
1 January 2017
the tax treatment applicable to the sales of rights on Scrip dividends will be amended according to articles 37 and 100 of Spanish Individual Income Tax Law (Ley del Impuesto sobre la Renta de las Personas Físicas).
The foreseen impacts of the implementation of this Law are:
- Tax will be applied on the sales of rights; and
- Tax will have to be withheld by the custodian/depository.
The Spanish Banking Association (AEB) is currently analysing the changes and is expected to launch an official notification clarifying the procedures to be followed by the Spanish market.
Clearstream Banking will continue to monitor the situation and will provide any further information as it becomes available.
Further information
For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking Frankfurt (CBF) customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.