Spain: New withholding tax rate
Further to TaxFlash T15031, dated 10 July 2015, Clearstream Banking1 would like to inform customers that effective
12 July 2015
the standard withholding tax rate on all Spanish securities (debt securities and equities) will be reduced from the current 20% to 19.5%.
Background
The Legislative Royal Decree 9/2015 (RDL 9/2015), approved by the Spanish Government last Friday 10 July 2015, was published in the Spanish Official Gazette (BOE) on Saturday 11 July 2015.
The RDL 9/2015, which became effective on 12 July 2015, decreases the Spanish withholding tax from 20% to 19.5% for all payments as of value date 13 July 2015.
Note: The withholding tax rate to be applied to interests or dividends distributed by companies set up in Navarra's region remains at 20%, until further notice.
Impact on customers
No changes will occur to the tax relief procedures currently provided by Clearstream Banking. As of 13 July 2015, undisclosed positions are taxed at the maximum rate of 19.5%.
Further information
For further information, please contact the Tax Help Desk, Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and 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.