Taxes on capital gains or dividends should be declared within your income tax return. As a general rule, tax returns in Spain should be filed and paid between April and June following the end of the tax year. The declaration and payment period is established annually by a ministerial order.
Since 1 January 2022, the taxation of ETFs has faced many changes. The Spanish Personal Income Tax Law (IRPF) established the transfer regime, allowing Spanish investors to defer the tax payment on capital gains obtained from the transfer or redemption of shares in qualified collective investment vehicles. Since these changes do not apply to the service provided by Mintos, they will not be covered in this article.
Capital gains tax
Capital gains for Spanish and foreign ETFs are taxed using a progressive tax rate from 19% to 26%. Income obtained from ETFs will be considered within the income of savings in the Personal Income Tax (IRPF) as a capital gain or loss. This means the following brackets will apply to the obtained profit:
- First €6000 of profit: 19%
- Profit between €6000 and €50 000: 21%
- Profit between €50 000 and €200 000: 23%
- Profit over €200 000: 26%
See the example below:
Assuming that no profit has been generated previously
Capital gain tax
ETF purchase amount: €10 000
ETF sale amount: €13 000
Gain on sale = €13 000 - €10 000 = €3000
Capital gains tax = €3000 * 19%= €570
Mintos does not provide tax advice. For specifics on local tax regulations, we recommend you obtain advice from the Tax Authorities or independent advice from tax consultants.
Mintos does not provide tax advice. For specifics on local tax regulations, we recommend you obtain advice from the Tax Authorities or independent advice from tax consultants.