Taxation of Fondtesoro holdings

Classification
The participant's earnings arise from the appreciation of holdings from the time of their acquisition.

For tax purposes, such earnings are treated as a capital gain or loss and, as such, need not be declared in income tax returns while holdings remain unsold.

If the price of a holding (its liquidation value) at the time of sale is higher than the price paid in acquiring it, the resulting difference is taken as a capital gain for tax purposes.



 Taxation

La ganancia patrimonial tributará al tipo de gravamen del 19.5% hasta los 6.000 €, el tramo de la base liquidable entre 6.000 € y 50.000 € tributa al 21.5% y el tramo que excede de 50.000 € tributa al 23.5% en los ejercicio 2015.

The portion of capital gains generated before 20 January 2006 and arising from units acquired before 31 December 1994 will qualify for a 14.28% reduction for each year extending beyond two years. For this purpose, the number of years will be taken as those elapsing from the acquisition date to 31 December 1996, rounded upwards.



 Retención
The capital gains obtained from the transfer or redemption of Fondtesoro holdings are subject to a withholding tax of 19.5%