Hacienda knocks on our door every year and it will do so de facto in the month of April with the beginning of the 2021 Income Campaign. It is not about being a fiscalist, but just as we want to know all the ins and outs of trading, we look at the prices throughout the session and we want to be up to date on how much our stocks are gaining or losing before we reap the profits or to put a stop and end an investment, the most appropriate thing is also to know how much the taxation of the shares supposes us, in equities.
Essential for two reasons. The first is that, in this way, when we make our calculations about the performance that we expect from a company, we take into account all the added expenses, brokerage fees included.
The second is that It is a simple and practical way to keep our finances up to date in order to make the personal income tax return. If at the end of a year we are already clear about our balance in capital gains or losses from the stock market operations in variable income that we have, we already forget, facing the Income Campaign with our homework done.
Having said that,the first thing we need to know is that the shares of 57 companies listed on the Spanish stock market have an initial lien and new, from last year. We are talking about the Tax on Financial Transactions, popularly known as the “Tobin tax” that taxes share purchase transactions with 0.2% of the total transaction, to all those companies whose market capitalization exceeds 1,000 million euros.
That includes of course all those of the Ibex and some more of the Continuous Market. Among the values that have entered the list we find Metrovacesa, Cementos Molins, Aedas Homes and also Acciona Energías Renovables and the insurance company Línea Directa.
And the retention is made by the Treasury at the same moment in which the shares are purchased, so you won’t have to worry about communicating it, it’s immediate and by default. But it is important for your personal accounts along with the commissions for the purchase of the shares to which the sales will also have to be added, in view of the capital gains. That is, to know exactly how much we gain or lose in the event of a subsequent drop sale with our shares.
Later when we sell our shares and we have, let’s think positive, raised the profitability of our investment and earned money with the titles of a certain company, This amount will be taxed in the following way, to which the administration expenses and also the custody commissions are subtracted. And it will be produced based on the surplus value that we have obtained.
Up to 6,000 euros of benefit, the rate to be applied is 19%, from 6,000 to 50,000 it is 21%, from 50,000 euros to 200,000, the interest rate to be applied will be 23% and if it exceeds that amount it will reach 26%. Of course gains and losses can be offset in the same year to balance itself and even so that we pay less to the Treasury. The positive part is that, if we obtain losses in one year, they can be compensated during the following four years.
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