In today’s blog we’re going to explain how to tax financial assets, so that you know how to keep your tax return up to date.
For these assets, and for financial options, the way to declare them is the same as for capital gains, so the savings tax base is applied.
In the case of shares, the
is as follows:
When it is less than 6,000 euros, a rate of 19% will be applied. Between 6,000 and 50,000 euros, 21% will be applied. And over 50,000 euros and above, a tax rate of 23% will be applied.
However, futures and options are not subject to withholding tax and generate two types of income.
On the one hand, income hedging, which is included in the general base and, on the other, income that constitutes capital gains or losses, which would be taxed on a savings basis as explained above.
are taken into account as savings income. In calculating the annual personal income tax adjustment, you have to calculate the difference between the price of the contract.
Financial derivatives** such as swaps, warrants and CFDs are subject to withholding taxes and are taxed as capital gains or losses.
In the case of CFDs, as they are included in savings income in the calculation of the annual personal income tax adjustment, the difference received from the contract is taxed in the same way as other financial assets.
If the transaction did not work out, you do not have to pay tax, and although the loss must be reflected in the tax return, it is not mandatory to use the current year’s profits to cover the loss, as the law allows you to offset the result within four years of the loss.
If the profits are obtained through CFDS transactions in the final balance sheet, they will be taxed as other products in the savings tax base: When it is less than 6,000 euros, a rate of 19% will be applied. Between 6,000 and 50,000 euros, 21% will be applied. And over 50,000 euros and upwards, a tax rate of 23% will be applied.
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We hope we have helped you and may the market be with you!