Does any other jurisdiction have similar tax rules to Spain.
I hold £BNC on another platform and since it’s a Spanish share CDI there would be tax reporting due not to the UK HMRC* but to the Spanish to tax authorities.
*If not invested in an ISA then there shall be reporting to HMRC if the asset is sold.
In effect if you sell Spanish shares for profit (including CDIs sold on the London stock exchange) you shall need to fill a Spanish tax form (known as a modelo 210)
As I’m not a financial or tax adviser related to either UK or Spanish tax affairs I shall leave you the website of www.spanishtaxforms.co.uk
Does any other country have similar laws we need to be aware of?
I think there is some sort of double taxation treaty with spain. There is also an additional spanish tax on dividends for companies with a market cap over €1B
I would imagine other countries would have some sort of withholding tax, I think switzerland do as well.
Ireland stocks have stamp duty of 1% - Smurfitt Kappa is listed on london, however because its HQ is in Ireland, stamp duty is 1% which you can see in the app when you select costs and charges.
I appeared to have mis-interpreted the email.
I have to say this
I am not a tax advisor and anyone who is unsure is advised to seek independent tax advice
Disclaimer out the way
According to an email I received from a tax advisor in the UK specialising in Spanish shares. If a capital gain is made you do need to also report and pay what you owe to the Spanish authorities, as well as any reporting requirements you have towards the UK HMRC.
I don’t say this to put you off as I hold £BNC, but I do feel this information is not publicised enough within the UK investment community.