Spanish taxes on stocks and ETFs

0POSTS

2 years ago

I have worked in Spain for 5 months and I want to start investing. However, I am in doubt about the taxation rules on stocks and ETFs in Spain. I can understand that the value of stocks being held do not need to be declared, since stocks are taxed only after being sold. However, I know that in some countries, the rules for ETFs (Exchange Traded Funds, or fondos cotizados) are different. For example, in Denmark, the values at the beginning and end of a calendar year of the ETFs that a person owns need to be declared, and the differences in those values are taxed (even without selling anything). Does someone know if it works the same way in Spain, or are ETFs only taxed after selling them?

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gwynj Bulgaria Expert

2596POSTS

2 years ago

@jkaldau

I'm pretty sure Spain taxes you only on the capital gain on disposal (whether it's a stock or ETF).

You probably should consider your tax residence situation too. Are you an official tax resident of Denmark or Spain or both?

GuestPoster970 Guest

0POSTS

2 years ago

@gwynj Thanks for your comment. I live in Spain and work for a Spanish company. I am a tax resident of Spain, but not of Denmark.

gwynj Bulgaria Expert

2596POSTS

2 years ago

@jkaldau

If you packed your bags and left Denmark... and now you live and work in Spain instead. This is probably a fairly simple case where you swapped one tax residence (Denmark) for another (Spain).

Gaining Spanish tax residence

Losing Danish tax residence

You should note that being a taxpayer is possible (or necessary) even when you are not yet a tax resident. For example, property tax if you own a Spanish property, or income tax deducted at source if you're an employee.

GuestPoster970 Guest

0POSTS

2 years ago

@gwynj

Yes, I am a tax resident of Spain, not of Denmark. That is why I am interested in learning about the Spanish tax rules, specifically regarding ETFs.

GuestPoster970 Guest

0POSTS

2 years ago

@gwynj, I was in Spain for more than 183 days in 2023, and will be in 2024 as well, so I should be tax resident here already. Whether I am a tax resident in Denmark I am not sure, but I will make sure of this before I start investing.