Investor tax reporting services
Spanish Investors in mutual funds can under certain conditions benefit from a tax deferral scheme called "Traspasos".
Tax deferral scheme, Traspasos
Main features
Capital gains from any disposal of fund units are fully taxable for investors. Taxation may be deferred if investors subscribe for units of another fund in the same amount.
Certain conditions must be satisfied by the fund and by the Spanish distributor.
The distributor needs to send the regulator (CNMV - Comisión Nacional del Mercado de Valores) the list of funds eligible for the scheme together with the NAV data of the relevant funds on an annual basis.
This tax deferral scheme applies also in case of merger of funds.
Scope of services
Assistance in relation with the traspasos regime includes:
- Check that a merger meets the conditions to benefit from the regime;
- Support in accessing the reporting regime (review of the contract with the distributor, conditions to access the regime, etc.);
- Assistance in communication with distributors, etc.
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Contact us
Christian Heinz
Tax Partner, Global Tax Compliance Leader, PwC Luxembourg
Tel: +352 621 33 2247
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