Find general guidance about taxes when using Wise Interest or Stocks.
This guide is for informational purposes only. Reach out to your tax advisor for any consulting or advice.
Taxes that tax residents of Spain pay when investing in Blackrock Global Index Funds
Spanish resident individual investors might have to pay taxes on their earnings, as well as on any income that the fund makes.
What you’ll need to pay depends on:
The Autonomous Community where you live in Spain, meaning the place where you stay for more time in comparison to other Autonomous Communities within the Spanish territory.
The amount of financial income and capital gains and losses accrued during the Spanish tax year.
Income from investment funds is generated when shares are sold, by the difference between their sale value and the purchase value. For distributing funds, income is also generated when receiving dividends.
If the funds you're investing in are regarded as Qualifying funds for Spanish tax purposes and therefore aren't transparent for tax purposes, distributions and capital gains on the disposal or redemption of units are taxable in your Spanish tax return as savings income and taxed from 19% to 26%.
Spain has a specific self-assessment method to submit and pay the relevant taxes, which must be reported every tax year to the Spanish tax authorities before the end of June of the following calendar year. Learn more about how to submit your Self Assessments at GOB.ES (Tax Agency: Personal Income Tax and Tax Agency: Wealth Tax).
Please note that sole traders can't rely on this advice and are likely to be taxed as a business.