![]() ![]() However, the physical settlement of a derivative over in-scope shares is regarded as a taxable acquisition. Out-of-scope examples: debt instruments, units of Collective Investment Vehicles, units in Exchange-Traded Funds, derivatives, voting rights.ĭerivatives are not themselves in the scope of the Spanish FTT. In-scope examples: shares, depositary certificates, bonds exchangeable or convertible into shares (only at conversion) The SFTT concerns shares as defined in Article 92 of the Capital Corporation Law: The list of Spanish companies with a market capitalisation value on 1 December of each year greater than EUR 1 billion will be published before 31 December of the same year in the electronic headquarters of the State Tax Administration Agency (AEAT). Only acquisitions are taxed, while sales are not in the scope. The Spanish FTT is applicable on the acquisitions of financial instruments traded on a regulated market issued by a Spanish entity with a market capitalisation of more than EUR 1 billion on 1 of the previous year. The Spanish FTT is an indirect tax on acquisitions of the shares of large listed Spanish companies, which applies independent of the residence of the purchaser participating in the transaction or the place where the acquisition takes place. The information below complements our Announcement C20064 and provides additional clarifications that will enable Clearstream Banking customers to report both taxable and exempted acquisitions and to fulfil their payment obligations towards the Spanish Tax Authorities. Changes have been highlighted.Ĭlearstream Banking 1 would like to remind customers that the Spanish Financial Transaction Tax (FTT) Law 5/2020 of 15 October 2020 entered into force on 16 January 2021. Note: This announcement, originally published on 19 February 2021, has been updated with regard to the deadlines for submission of the tax return and with additional details on the application for an Individual Identification Code (i.e.
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