BOE-A-2026-20144 ·28 September 2026 ·Resolution Medium impact
Tax

Financial assets with mixed returns: reference interest rates published for the fourth quarter of 2026

The General Secretariat of the Treasury has established the effective annual interest rates for the fourth quarter of 2026, required for the tax classification of financial assets with mixed returns (Art. 2 and 3). These rates are applied based on the issue term to determine whether the return is considered explicit under the Corporate Tax Regulations (Art. 63) and the Personal Income Tax Regulations (Art. 91).

In 3 key points

  1. Rates for assets with a term <= 4 years: 2.463% (non-linked) and 1.232% (CPI-linked) (Art. 2 and 3) (art. 2 y 3)
  2. Rates for assets with a term of 4-7 years: 2.604% (non-linked) and 1.302% (CPI-linked) (Art. 2 and 3) (art. 2 y 3)
  3. Rates for a 10-year term: 3.168% (non-linked) and 1.584% (CPI-linked) (Art. 2 and 3) (art. 2 y 3)

How it affects those involved

For companies and individuals holding financial assets with mixed returns, these rates will determine the tax classification of their returns during the final quarter of 2026. In the case of public debt with inflation-linked coupons, specific reference rates will apply, which are notably lower than those for non-linked debt (Art. 3). The application period is strictly the fourth calendar quarter of 2026.

Lifecycle

2026-09-28PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.
PDF on boe.es

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