This summary outlines the key tax considerations and reporting requirements for Spanish tax residents investing in Mintos assets. This guide provides general information and is not tax advice. Please consult a tax professional or the Agencia Tributaria for personalized guidance.
📌 General Principles
- Tax Type: Investment income from Mintos (interest) is subject to the Spanish savings income tax (IRPF) at progressive rates ranging from 19% to 28%, depending on the total amount.
- Withholding Tax (WHT): Mintos, based in Latvia, applies withholding tax up to 25.5% unless EU/EEA tax residency is confirmed—then a reduced rate of 5% for private investors, who have confirmed their Tax ID. If you are investing as a company, no Withholding Tax (WHT) is applied.
- Spanish Reporting: Declare Mintos earnings in Modelo 100, under the “Rendimientos del capital mobiliario” section (typically Box 27 for interest income).
- Foreign WHT deduction: If foreign tax is withheld (e.g., by Mintos), you can claim a foreign tax credit up to the amount of Spanish tax due on that income.
- Declaration Deadline:
- Online filing window: 2 April – 30 June (following the tax year)
- Direct debit payment deadline: 25 June
- Methods: Online (sede.agenciatributaria.gob.es), phone (from 6 May), or in person (from 2 June)
📦 Mintos Asset-Specific Tax Overview
| Asset Type | Income Type | Withholding Tax | Spanish Tax Form | Notes |
| Loans (claims) | Interest | ❌ No | Modelo 100 | Declare full gross income |
| Loans (Notes backed by loans) | Interest | ✅ Yes | Modelo 100 | Declare full gross income and apply for WHT deduction |
| Bonds (Notes backed by bonds) | Interest | ✅ Yes | Modelo 100 | Declare full gross income and apply for WHT deduction |
| Bonds (direct bonds) | Interest | ❌ No | Modelo 100 | Declare full gross income |
| Smart Cash | Interest | ❌ No | Modelo 100 | Declare full gross income |
| Real Estate (Notes backed by real estate) | Interest | ✅ Yes | Modelo 100 | Declare full gross income and apply for WHT deduction |
| ETFs | Capital Gains | ❌ No | Modelo 100 | Declare the difference between the purchase and the selling price |
💼 Tax Filing Notes
- Reporting Foreign Income: Mintos income must be declared, even if foreign tax was withheld.
- Foreign WHT Credit: Use Mintos’s annual tax report to claim a tax credit for withheld tax on your Modelo 100.
- Tax rates from 2024 (please check with your local tax office for the accurate rate)
- Up to €6,000 → 19%
- €6,001–50,000 → 21%
- €50,001–200,000 → 23%
- €200,001–300,000 → 27%
- Over €300,000 → 28%
🧾 Modelo 720 – Declaration of Foreign Assets
If your total foreign assets (including Mintos) exceed €50,000, you must file Modelo 720 by March 31 of the following year. This is an informative return only, but penalties for non-compliance are significant.
- Includes: Mintos investments, foreign bank accounts, shares, and real estate.
- More info: Agencia Tributaria – Modelo 720
✅ Tips for Spanish Investors
- Ensure your Mintos profile has confirmed EU/EEA tax residency and private investor status for reduced WHT (5%)
- Download and retain Mintos Tax Reports to support your Spanish tax declaration.
- Keep records of investment performance, losses, and foreign tax withheld.
- Consult a tax advisor to maximize relief under Spain’s foreign tax credit regime.
⚠️ Disclaimer
This guide provides general information and is not tax advice. Please consult a tax professional or the Agencia Tributaria for personalized guidance.