![]() For other financial instruments (derivatives, bonds, etc.), they will only be subject to the tax when the execution or settlement of said financial instruments entails a delivery of shares (or depositary certificates). In summary, only acquisitions of shares or depositary certificates representing such shares are in the scope of the tax. However, the physical settlement of a derivative over in-scope shares is regarded as a taxable acquisition. Similarly, bonds exchangeable or convertible into shares are not themselves in the scope either, but only at conversion. 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 representing shares, for example ADRs of Spanish shares.The SFTT concerns shares as defined in Article 92 of the Capital Corporation Law: The list of Spanish companies with a market capitalisation on 1 December of each year greater than EUR 1 billion will be published before 31 December of the same year on the website 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 shares traded on a regulated market (Spanish or foreign) issued by a Spanish entity with a market capitalisation of more than EUR 1 billion at 1 December of the previous year (acquisitions may also result from corporate actions). 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. CSDR requirements for Transfer Agents and Registrars.Central Securities Depositories Regulation (CSDR).Notice of European Union Data Protection Terms.Technical and organisational measures (Article 32).
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