Investors living in Spain

[Seehr]

Hi Everyone,
I copied the German and Dutch idea of creating a small community here so we can discuss about things like tax declarations, latest news regarding stock and investment in spain and even government plans for future taxing.
I think we would all agree that most important part is tax declaration and maybe we can help each other with that. I know that the D6 should have already be presented, but I still have a couple different questions…

Maybe we can centralize some questions here so if in the future anybody who’s living in Spain has a doubt, they can maybe solve it in this post?

I’m going to start with one: We are supposedly only obligated in Spain (as of 2021) to declare once we have withdrawed. Until here the obligation is only to inform. But our current model (D6) has a lot of flaws. It doesnt allow including fractional actions, and they say that if we trade with CFDs we dont need to fill it. But I’m not sure what I’m trading with T212? In Degiro for example, the shares that you trade are all VOTING SHARES. What are we trading with T212? Shares? CFDs?

Anyway, I hope we can discuss and someone joins the conversation here!

Un saludo!

[BottomTrader]

Depends on the account that you are using. Invest is for Equities (shares) and ETFs, including fractional shares. Read up on the T212 trading, routing policy. CFD is for CFD, unless you are experienced don’t use this.

I recently started to use T212 Invest, and will probably never use the CFD. You need to declare any earnings that you make to Hacienda after April 1st, I believe it is. Anything that you make money on you will have to pay taxes on. Also on dividends.

As I understand it, it is not whether you withdraw, money or not but the earnings you make. So basically you declare x = total losses for the year ending Dec 31 + total profit for the year. You have different tax brackets depending on how much profit you make. anything under 6000 Eur is taxed at a lower rate, above more until the next bracket.

There is also an ISA account, but I don’t think this is available for us in Spain (tax-free trading), but I don’t know much about this. Watch the T212 videos and read up on how T212 trading works.

cheers.

[Seehr]

Hey BT!

Thanks for the clarification on the equities. I was wondering if the fact that they are fractioned in some way made them not shares but rather contracts? (cfds?) I dont know if that works like this or not. Other traders dont allow fractioning because they call the equities as voting shares and therefore you pay them entirely.
So I was talking with my financial adviser and she told me that I would only have to declare (as in: pay) whenever I withdrawed and therefore received the gains. But until then our obligation is to inform about how many actions we have and where. (that’s what the D6 is for) but the D6 seems to be outdated and not ready for fractional shares and cryptos.

Thanks for answering!
Cheers

[EquityInvestor]

@BottomTrader

There is also an ISA account, but I don’t think this is available for us in Spain (tax-free trading), but I don’t know much about this.

ISA accounts are only available to UK residents.

There are a couple of other threads relevant threads for investors resident in Spain, which I link below in case they are of interest:

Spanish residents how do you manage taxes in Spain?

Hi, I’m from Spain and pretty new in this investing stuff and I’ve seen in the community that T212 doesn’t manage taxes and we have to do it in our own, so Spanish residents in the group, how do we need to pay taxes in Spain? if I buy/sell/dividends/etc’s… Thanks for you help.

Spain - Modelo D6

Hi, I have to send the Modelo D6 form and it asks me to attach a statement with my positions at the end of 2020. Will the monthly statement from December be enough or do I have to ask for a specific statement from Trading 212? Thank you so much.