Deposits in your currency

The tax treatment of interest generated by your accounts and deposits depends on your tax status in Spain:

Non-residents in Spain

• If you are not resident and provided this can be demonstrated, there is no withholding tax on interest and this is not taxable as income in Spain.
• If non-residence in Spain cannot be demonstrated, the 19.5% withholding tax applies.

Residents in Spain

• Interest payments are treated as investment income and added to your taxable savings base.
• The applicable tax rates for the savings base is 19.5% on the first €6,000, 21.5% on the following €50,000 and 23.5% thereafter.
• At payment time interest is subject to a 19.5% withholding tax.