I have two questions, I think the first will be simpler.

If buy an ADR stock in say Santander or Telefonica do I have pay Spanish capital gains on the stock and file a Spanish tax return when I sell them, or do I just pay US capital gains?

Here is my real question.
I am a US resident. I gained Santander CDI shares (listed on the London Stock Exchange) via Abbey National, which became a bank, which then got bought by Santander. The shares are held in my US trading account. I am planning on selling the shares but i have read some stuff about having to file a Spanish 210 tax form. Do I have to do that? I am not a Spanish resident and have never lived or worked in Spain.

  • 1
    I see that you tagged the question “united-kingdom” but you said that you live in the U.S. Did you mean to tag the question “united-states”? – Ben Miller - Remember Monica Apr 16 '18 at 2:05
  • Yes, the second question is about Santander Shares i got when Abbey Nation (UK bank) was bought by Sandarder, which are CDI shares listed on the London (United Kingdom) stock market – I Macdonald Apr 16 '18 at 2:51
  • I think I found my answer for selling my Santander CDI shares and turns out to be fairly simple. spanishtaxforms. The shares I own came from the Abbey National acquisition, the price that the Spain cares about is the price on the date I got my Santander shares which is €8.44, Santander is currently trading for €5.369 so I will have a loss from a spanish point of view so no need to file anything with the spanish authorities shareview – I Macdonald Apr 16 '18 at 3:04

I am planning on selling the shares but i have read some stuff about having to file a spanish (sic) 210 tax form. Do I have to do that? I am not a spanish (sic) resident and have never lived or worked in spain (sic).

Yes, chances are you should do. But hopefully enough, chances are you might not need to, as a particular exception on being a US national (but sadly I can't quote properly about this).

In case you actually have to fill modelo 210, failure to comply could be fined up to 200EUR, on a case of article 198 of the "general taxes law" of Spain. Note that this is because you haven't had net income on the operation. If you haven't had net loss on the operation, you would be subject to a case of article 191 of the same law instead, which is a proportional fine.

Here's your help page for modelo 210. This is the law ultimately governing over all of your 210 stuff (but there are many more).

Hope that helped.

DISCLAIMER: This is not your tax advisory, it's a vague (yet informed) entry level reference in order to guide you. Here's no responsibility for any damages caused. If on doubt, always choose to go to the tax advisory office or to the revenue service office, depending on the cases.

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