Exemptions on dividends and income derived from transferring securities that represent the own funds of resident and non-resident entities in Spain

Article 21 of the LIS regulates the exemption on dividends and income derived from the transfer of securities representing the equity of entities not resident in Spanish territory, establishing that it does not apply to entities resident in territories considered as tax havens, unless they belong to the EU and meet certain requirements.

Therefore, as of 1 January 2021, the bilateral agreement between the UK and Spain for the avoidance of double taxation will apply.