Spanish Withholding Tax

Dividends paid by Santander will (under current law) be subject to Spanish withholding tax at the rate of 21%* 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 21%. 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 19% to 21%, effective from 1st January 2012.

Spanish Withholding Tax.pdf