Who is responsible for paying Spanish FTT?
The acquirer of the financial instrument is subject to Spanish FTT. DEGIRO automatically withholds and pays the financial transaction tax.
Which financial instruments are subject to Spanish FTT?
The financial transaction tax applies to shares or similar financial instruments issued by Spanish (resident) companies whose market capitalization is equal to or greater than EUR 1 billion as per 1 December of the previous year. The instrument must also be listed on a Spanish, European or foreign regulated market. For a complete list of the companies subject to this tax in 2025, please consult the following link.
Which transactions are subject to Spanish FTT?
The taxable transaction is the acquisition of the financial instrument or the purchase resulting from the assignment or execution of a position in derivatives. This means, for example, that the purchase of a call option is not subject to financial transaction tax, but the purchase of the underlying share through the exercise of such an option is subject to financial transaction tax.
What is the taxable base and the tax rate of Spanish FTT?
The tax rate is 0.2% (in 2021) and is calculated based on the value of the transaction, where same day (intraday) transactions per financial instrument are compensated.
At DEGIRO we compensate intraday transactions at the end of the day. This means that during the day the transactions will be subject to the above-mentioned tax and the potential (partial) reimbursement will be made once the reference market is closed.