Issues to consider when settling the tax in 2023

Income not subject to withholding

With effect from 25 April 2023, Article 7 of Royal Decree 249/2023, of April 4, modifies Article 61 of Royal Decree 634/2015, of July 10, which approves the Corporate Tax Regulations (RIS) to establish the exclusion of withholding on income from the reimbursement or transfer of shares or stocks in listed investment funds or companies to equivalent collective investment institutions in other States , regardless of the market in which they are listed.

In this regard, letter y) of article 61 of the Corporate Tax Regulations is modified, establishing that there will be no obligation to withhold or pay into account the income derived the reimbursement or transfer of shares or stocks issued the following collective investment institutions:

• Exchange-traded funds and listed variable capital investment companies regulated by article 79 of the Regulation implementing Law 35/2003, of November 4, on collective investment institutions, approved by Royal Decree 1082/2012, of July 13.

• Collective investment institutions established abroad similar to those mentioned in the previous number and different from those provided for in article 54 of the Tax Law, whether listed on a regulated market or in a multilateral trading system, regardless of the composition of the index they reproduce, replicate or take as a reference, provided that, in addition, the reimbursement or transfer does not take place in a market located in a country or territory considered a non-cooperative jurisdiction.