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V1177-18 9 May 2018 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · obligación real

No taxation required for non-resident on foreign fund holdings

A Turkish resident asks whether they must pay Wealth Tax on a fixed and variable income fund portfolio issued by non-resident entities and managed by a Spanish bank. The DGT responds that no taxation applies due to the absence of assets located in or exercisable within Spain.

The question raised

Question posed: Whether taxation under the Wealth Tax is applicable.

The DGT's ruling

Non-residents are subject to taxation by virtue of real obligation when the assets or rights are located, may be exercised, or must be fulfilled within Spanish territory. In this case, as the funds are issued by non-resident entities and are neither located nor may be exercised in Spain, no taxation applies, provided that no balances remain in the Spanish banking entity following the purchase of the products.

Apply this to a real case

What is published here, applied to a company or a specific case. The first meeting is free.

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