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2. Shareholders' collective

  1. Shareholders who accept loyalty bonuses
    1. Treatment and integration of the amortization of the shares of Banco Popular Español SA:

      • TAXATION: A capital loss is generated as a result of the transfer, the amount of which is the difference between the transfer value (0 euros) and the acquisition value paid by the taxpayer, to be included in the tax base of the savings.

      • INCOME 2017:

        • The information contained in the tax data of these taxpayers indicates that they must take into account this loss, derived from the amortization of their shares in Banco Popular Español. 

        • IMPORTANT. To quantify the loss, it is necessary for the taxpayer to have the information corresponding to the acquisition of the shares that have been amortized.

    2. Treatment of the delivery of the loyalty bonuses to the shareholders :

      • TAXATION: A capital gain is generated by the market value of the new obligations to be integrated into the savings tax base, which makes it possible to offset the previous capital loss.

      • INCOME 2017 : The amount must be declared as profit for the amount stated in the "Amount of the transaction" field in the tax data section called Banco Santander loyalty bonuses .

    3. Tax treatment of interest they receive on the same and, where applicable, of the sale of the loyalty bonds

      • TAXATION : Returns on movable capital will be generated, computing the interest for its full amount, and the sale of the bonds for the difference between the transfer value and the acquisition value, which will be the market value indicated in the previous point.

      • These interests are paid in 2018, so they should not be included in the income tax return for the 2017 financial year. They must be included from the 2018 financial year declaration.

B) Shareholders who do not accept loyalty bonuses

Treatment and integration of the amortization of the shares of Banco Popular Español SA:

  • TAXATION: A capital loss is generated derived from the transfer and the amount of which is the difference between the transfer value (0 euros) and the acquisition value paid by the taxpayer, to be included in the tax base of the savings.

  • INCOME 2017 : The information contained in the tax data of these taxpayers indicates that they must take into account this loss derived from the amortization of their shares in Banco Popular Español.