Spanish Withholding Tax

Dividends paid by Santander will (under current law) be subject to Spanish withholding tax at the rate of 19%* on the gross dividend paid.

If you are a UK resident you may also be subject to UK tax on dividends paid by Santander. The dividends will not carry a tax credit. Credit will, however, generally be given for the Spanish withholding tax of 19%. You will be sent dividend statements giving you the necessary details so you can claim this credit in your tax return.

* Please note that the Spanish government increased the rate of Spanish withholding tax from 18% to 19%, effective from 1st January 2010.

Spanish withholding tax - Full information