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V0404-17 15 February 2017 · SG de Fiscalidad Internacional Criterion in force
IRPF · renta mundial

Venezuelan bond yields may be taxable in Spain as worldwide income

A Spanish resident asks whether income from bonds issued by a Venezuelan state company and the Venezuelan state, which is exempt in Venezuela, must be declared. The DGT responds that, as a fiscal resident in Spain, income is taxed on worldwide earnings, and such bond income may be subject to Spanish taxation.

The question raised

Question raised: Inquiry regarding the obligation to declare the generated returns

The DGT's ruling

Returns from Venezuelan bonds may be subject to taxation in Spain according to the Convention with Venezuela and the IRPF Law. When taxing on a worldwide income basis, the resident must declare these incomes even if they are exempt in Venezuela. These earnings are classified as income from movable capital in accordance with Spanish regulations.

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