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V0234-19 6 February 2019 · SG de Tributación de las Operaciones Financieras Criterion in force
IRNR · depositario central de valores

A foreign central securities depository represented in Spain must comply with withholding and reporting obligations

An EU central securities depository (CSD) has enquired whether it is subject to tax obligations when acting as a sub-custodian in Spain through an omnibus account and a local representative. The Directorate General for Taxes (DGT) has ruled that, as a represented entity in Spain, it must comply with withholding tax certification obligations and the submission of informative tax returns.

The question raised

Question raised 1. Whether, under the described circumstances, the applicant will be subject to the formal tax obligations regarding certification of withholdings and the submission of informative returns to the Tax Administration, as provided in the Regulations of the Personal Income Tax, the Corporate Income Tax, and the Non-Resident Income Tax, in relation to income derived from Spanish securities belonging to third parties and held in custody by the applicant in the Spanish central securities depository.

The DGT's ruling

La entidad consultante, al contar con un agente que actúa como su representante fiscal en España, es considerada entidad representada en España. Por tanto, está obligada a emitir certificaciones de retenciones a los titulares de los valores y a presentar las declaraciones anuales de retenciones o informativas que correspondan (como los modelos 193, 296 y 198). Asimismo, su condición de entidad representada le habilita para intervenir en los procedimientos de retención o exención de retención regulados en las Órdenes de 13-04-2000 y 22-12-1999. Finalmente, no tendrá responsabilidad solidaria por el ingreso de deudas tributarias de no residentes cuando exista obligación de retención por parte del emisor.

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