Form descriptions - Standard refund - Spanish equities (securities held in CBF)
The information provided below is about the forms and their use in relation to the procedure for standard refund of withholding tax on income from Spanish equities.
To apply for a standard refund of withholding tax on dividends from Spanish equities, the following documentation must be submitted to Clearstream Banking depending on the status and residence of the final beneficial owner:
- Breakdown of refund;
- Power of Attorney in favour of Clearstream Banking;
- Bank account certificate;
- Letter of Request to Clearstream Banking for Reclaim of Spanish Withholding Tax for payments after 30 November 2020;
- Certificate of Residence;
- Petición de Devolución;
- Power of Attorney (from the beneficial owner if the Petición de Devolución is completed for the beneficial owner by a third party);
- Annex VI for EU/EEA pension funds/plans;
- Statement for EU/EEA Collective Investment Vehicles (CIVs);
- Copy of Convenio Constitutivo
- Full chain of credit advices
Form descriptions are presented according to the procedures available for reclaim of withholding tax on income from Spanish debt securities.
Breakdown of refund
The template of Breakdown of refund should mandatorily be used and all columns must be completed in order to be accepted. One Breakdown of refund may contain several reclaim applications (one line per reclaim application) for the same account and income event.. It should be provided via the Upload BO List facility and the reference number generated after the upload must be communicated in the LOR.
Who completes it? | Customer. |
How often is it provided? | Per reclaim application . |
When is it provided? | At the latest, by the Clearstream Banking refund deadline. |
Copy or original? | Clearstream Banking's online Upload BO List facility, using the provided template. |
Power of Attorney in favour of Clearstream Banking
A one-time Power of Attorney signed by the final beneficial owner granting Clearstream Banking the right to process the reclaim with 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, Clearstream Banking will provide a Power of Attorney, notarised and apostilled, granting BBVA the right to process the reclaim with the Spanish Tax Authorities and issuing companies on behalf of Clearstream Banking.
Who completes it? | Beneficial owner. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest, by the Clearstream Banking refund deadline. |
Copy or original? | Original required. |
Bank identity certificate
A bank identity certificate issued by the beneficial owner’s bank, containing and certifying the ownership of the designated cash account by the beneficial owner. The certificate must contain the BO identity details, its BIC and IBAN. It should be issued in the English language.
If the cash account is a non-EU account, the complete name of the Bank, complete physical address and country of the bank shall also be included in the bank certificate.
It is used by the Spanish tax authorities to pay the refund directly to the final BO.
The bank identity certificate is to be provided once in original paper form with the first tax reclaim and is valid until revoked.
Important: It is the entire responsibility of the final beneficial owner to provide new bank identity certificate immediately upon change of account details. Clearstream Banking cannot be held responsible for the non-payment of a refund if the account details provided are not accurate.
Who completes it? | Beneficial owner’s bank |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest, by the Clearstream Banking refund deadline. |
Copy or original? | Original required. |
Letter of Request to Clearstream Banking for Reclaim of Spanish Withholding Tax for payments after 30 November 2020 (LOR)
The Letter of Request authorises Clearstream Banking to reclaim withholding tax from the Spanish Tax Authorities on the customer's behalf. It must include the BO Upload (breakdown) reference number.
Customers can also mention their own reference number (column Y of the breakdown) in the dedicated field of the LOR
Who completes it? | Customer. |
How often is it provided? | Per reclaim application. |
When is it provided? | At the latest by the Clearstream Banking refund deadline. |
Copy or original? | Original required. |
Certificate of Residence (CoR)
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 (mandatory only if the treaty rate is reclaimed).
- 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 (except for CoR from a country that has a code number to be validated via the relevant tax authorities website instead of an original stamped and signed original form).
- It is presented double-sided, Clearstream 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, depending on the validity period |
When is it provided? | At the latest, by the Clearstream Banking refund deadline. |
Copy or original? | Original required. |
Petición de Devolución
For residents of countries for which there is a “Petición de Devolución”: Austria, the Netherlands, Sweden or Switzerland.
Official tax form, available from the Spanish Tax Authorities or from the beneficial owner’s local tax authority, and to 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.
Should the STAs require a CoR instead of a Petición de Devolución in order to process the tax reclaim, such CoR will have to be provided;
If a Petición de Devolución is completed and signed by a third party on behalf of the beneficial owner, a Power of Attorney must be provided.
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, Annually, depending on the validity period deadline. |
Copy or original? | Original required. |
Power of Attorney
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, Annually, depending on the validity period deadline. |
Copy or original? | Original required. |
Annex VI for EU/EEA pension funds/plans
The official template must be completed and signed by the representative of the EU/EEA pension fund/plan, certifying that the beneficial owner fulfils all the legal requirements published in Article 14.1.k of the Non-Resident Income Tax Law. Annex VI must be used for this purpose (replacing the usual certificate of residence).
The Annex VI is officially published in Orden Ministerial EHA/3316/2010 and cannot be changed. The unofficial English translation provided on our website is for information purposes only.
To facilitate the completion of this form, we offer a short explanation:
Certifico:
(I certify):
i. Que el Fondo de Pensiones que represento es residente en ______ desde el año ______.
(That the Pension Fund that I represent is resident in ______ (country of residence) since year______.).
ii. Que el Fondo de Pensiones que represento está inscrito en el Registro ______ de ______, con el número ______, desde el año ______.
(That the Pension Fund that I represent is registered in the Register office ______ (country) of ______ (city), under the registration number ______ (number), since year ______.).
Who completes it? | Representative of the EU/EEA pension fund/plan. |
How often is it provided? | Annually. |
When is it provided? | At the latest, Annually, depending on the validity period deadline. |
Copy or original? | Original required. |
Statement for EU/EEA Collective Investment Vehicles (CIVs)
A certificate issued by the competent authority of the EU/EEA member country of origin of the final beneficial owner (CIV), stating that it fulfils the conditions laid down in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009.
Member countries shall designate the competent authorities in charge of signing the above-mentioned certificates in accordance with the previsions described in the Article 97 of the above-mentioned Directive: “The competent authorities shall be public authorities or bodies appointed by public authorities.”
This document, for which no official template has been provided by the Spanish Tax Authorities, replaces the usual certificate of residence.
Who completes it? | Local competent authority of the CIV. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest, Annually, depending on the validity period deadline. |
Copy or original? | Original required. |
Convenio Constitutivo
To be provided If the beneficial owner is a supranational organisation recognised by Spanish law.
Who submits it? | Beneficial owner and beneficial owner's tax authorities. |
How often is it provided? | Per reclaim application. |
When is it provided? | At the latest, by the Clearstream Banking refund deadline. |
Copy or original? | Copy required |