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.

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Hi Sergio,

You do it the same way as with a Spanish based broker, the only difference is that the broker does not tell “Hacienda” what you did during the year. So you need to put the right values into “Declaración de la Renta IRPF”.

You should keep an Excel with all transactions and it should not be much of a problem. You get purchase / sell prices from the statements.

The only thing where T212 really disappoints is managing dividends. At the moment they just give you a monthly statement saying you received “X” amount in dividends. But they do not break it down into specifics like companies, tax withheld (15% from US stocks), etc. So effectively you need to declare all dividends without proof of the withholding tax already payed, which means double taxing everything again until T212 decides to stop ignoring us and tackles the issue.

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Thanks for helping, But do I always have to declare the dividends and sell/buy transactions? I’m pretty new to this investing and with hacienda, I only received about 2.50€ in dividends per year so do I need to declare that as well with my buys/sells operations?? Again thanks for helping!!

Regarding the sell/buy you only need to declare if you made a gain. Google it, there are tons of pages about that.

And for dividends the answer is yes, from the very first cent it is taxed at 19%. Hence why having proper statements will help you as you will be able to demonstrate that you already paid 15%.

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Hello my friends,

When declaring taxes do we have to go purchase by purchase or just the overall stock? I’ve performed a lot of buys and sells during 2020 and would take ages to gather all this info.

Thanks!

Hi wdavis,

You need to declare your gains, including dividends. So this would basically be your losses+gains+dividends=overall gains. As mentioned elsewhere dividends are already taxed, but you need to be able to demonstrate this and T212 does not provide this info. Example, Apple paid 0,20 cents a share in dividends in February but we only got 0.17 cents per share in our accounts as the US withheld taxes. T212 does not provide this detail in the statement which is a shame.

You may be required to demonstrate how much you have invested if it is above a certain amount, I believe it is 50.000 Euros.

But better to google it or request a meeting with hacienda when the time comes, but again if you don’t have a lot invested they will not give you one. I had this problem a few years ago when I had to declare gains, so I eventually just did the above.