Spain: Financial Transaction Tax (FTT) - Change in the FTT declaration file
Clearstream Banking1 would like to inform customers that effective
immediately
the last worksheet of the Spanish FTT declaration file “Fields definitions and formats” has been updated following amendments of the literal of the applicable exemption case “M” (field 77) which now includes two specific exemption cases. Accordingly, the literal of “Free text” (field 91) has been amended to consider the change of the applicable exemption case “M”.
Background
Clearstream Banking AG (CBF)2, in its role as participant of Iberclear (Spanish CSD), has been informed by the Spanish CSD of the recent modification in the literal of the applicable exemption case “M”, of the Spanish FTT declaration file in order to:
- Specify the application period of one of the existing applicable exemption cases; and
- Include the exception of the Financial Transactions Tax regarding the acquisitions of shares made by employment pension funds and mutual provident societies or non-profit voluntary social security entities, introduced by Law 12/2022 of 30 June 2022, which modifies Law 5/2020 of 15 October 2020 on the Financial Transactions Tax.
In addition, the literal of the field 91 “Free text” has been amended to indicate the information that customers must specify if exemption code “M” is used:
- When the exemption is foreseen in DTº 41 2.d) of the LIS (added by the first article of Law 11/2021”, the following description must be used in this field: “LISDT41”.
- When the exemption is foreseen in art. 3.1.m) of LIT, the following description must be used in this field: “3.1.M”.
Impact on customers
Clearstream Banking has updated the Spanish FTT declaration file to reflect the change in the literal of application exemption case “M”. Customers can find the latest version of the MS Excel template on the Spain: Financial Transaction Tax (FTT) page to be filled in and to be converted to DAT so that they can submit transactions subject to the Spanish FTT file declarations to Clearstream Banking.
Further information
For further information, customers may contact the Clearstream Banking Tax Help Desk, Clearstream Banking Customer Service, or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
2. Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.