Form descriptions - Standard refund - Spanish equities (equities in CBF)
Information is provided here about the forms and their use in relation to the procedure for standard refund of withholding tax on income from Spanish equities, as follows:
- Power of Attorney in favour of LuxCSD; or
- Power of Attorney in favour of BBVA;
- Breakdown of refund
- Petición de Devolución,
- Power of Attorney
- Certificate of Residence
- Copy of Convenio Constitutivo.
Power of Attorney in favour of LuxCSD
A one-time Power of Attorney signed by the final beneficial owner granting LuxCSD the right to process the reclaim with, and to collect the taxes from, the Spanish Tax Authorities on behalf of the final beneficial owner. This Power of Attorney does not need to be notarised or apostilled.
Note: In addition, LuxCSD will provide a Power of Attorney, notarised and apostilled, granting BBVA the right to process the reclaim with, and collect the taxes withheld in excess from, the Spanish Tax Authorities and issuing companies on behalf of LuxCSD.
Who completes it? | Beneficial owner. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Original required. |
Power of Attorney in favour of BBVA
A one-time Power of Attorney in favour of BBVA, signed by the final beneficial owner in the presence of a Notary, with apostil according to the Hague Convention of 5 October 1961.
Note: An English translation of this Poder Especial is included in the list of Tax Forms to use but is provided for information purposes only and must not be submitted as such in reclaim applications. Use of the Spanish language version is mandatory.
Who completes it? | Beneficial owner. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Original required. |
Breakdown of refund
The template of Breakdown of refund is available via BO upload. One Breakdown of refund may contain several reclaim applications (one line per reclaim application).
Who completes it? | Customer. |
How often is it provided? | Per reclaim application . |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | BO upload |
Petición de Devolución
If the beneficial owner is a resident of Austria, the Netherlands, Sweden and Switzerland to reclaim tax withheld on dividends a “Petición de Devolución” (the official tax form) can be obtained from the Spanish Tax Authorities or from the customer’s local tax authority, if available, and must be completed by or on behalf of the beneficial owner and by the beneficial owner's local tax authorities.
A single Petición de Devolución may include several ISINs and payment dates provided that all of them are related to the same beneficial owner and calendar year.
Who completes it? | Beneficial owner and beneficial owner's tax authorities. |
How often is it provided? | Per reclaim application. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Original required. |
Power of Attorney from the Beneficial Owner to LuxCSD
A Power of Attorney from the beneficial owner to the entity acting on his behalf must be provided if the Petición de Devolución is completed for the beneficial owner by a third party.
Who completes it? | Beneficial owner. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Original required. |
Certificate of Residence
For each beneficial owner resident in a country that has a Double Taxation Treaty (DTT) in force with Spain but for which there is no "Petición de Devolución”, a valid Certificate of Residence must be issued. The Certificate of Residence is considered as valid if:
- It covers the payment date. Its validity is for one year from its issuance date. Should it specify a specific period, the document will be valid for that particular period only, regardless of the date of issuance.
- It is issued by the local Tax Authorities of beneficial owner’s country of residence.
- It refers to the article of the relevant DTT granting the reduced rate.
- It is duly signed and stamped by the local Tax Authorities of beneficial owner’s country of residence.
- It is either in Spanish or in English.
- It is presented in its original form.
- It is presented double-sided, LuxCSD will not take any responsibility if the form is not double-sided and rejected by the depository.
Who completes it? | Beneficial owner's tax authorities. |
How often is it provided? | Annually. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Original required. |
Convenio Constitutivo
If the beneficial owner is a supranational organisation recognised by Spanish law.
Who completes it? | Beneficial owner and beneficial owner's tax authorities. |
How often is it provided? | Per reclaim application. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Copy required. |
For customers who wish to follow the old procedure instead of the simplified procedure with the Breakdown of Refund only:
Letter of Request to LuxCSD for Reclaim of Spanish Withholding Tax
Authorises LuxCSD to reclaim withholding tax from the Spanish Tax Authorities on the customer’s behalf.
Who completes it? | Customer. |
How often is it provided? | Per reclaim application. |
When is it provided? | At the latest, three months before the statutory deadline. |
Copy or original? | Original required. |