The new 2022-2023 Income campaign will end on June 30. An edition that will also receive special attention from Letras del Tesoro investors.
Last year and the first quarter of 2023 ended with a high demand for this financial product. A situation that even caused long lines of small investors at the headquarters of the Bank of Spain. In fact, for a few days the appointment on the Public Treasury website stopped working.
The income generated by Treasury Bills, whether due to expiration or transmission, must be entered in model 100 of Income or Personal Income Tax. Specifically, it will be in box number 30 of said official document from the Tax Agency.
It should be noted that this information will be exclusive to box number 30 and not to box 31, which is intended for amortization of Treasury Bonds and State Obligations.
Investors in Public Treasury Bills must take into account that they are financial assets issued at a discount or with implicit yield when declaring Income.
Therefore, the difference between the amount obtained from the sale or amortization of the bill and the amount paid on its purchase is considered income from movable capital subject to the exercise of the corresponding personal income tax.
In this case, there is no withholding on account of said return on the recipient thereof.
The Treasury Bills were created in June 1987, when the Book-Entry Public Debt Market was launched, and are issued through auctions with maturities of less than 18 months.
Currently, the marginal return on six- and twelve-month bills is close to 3%, which is why they have aroused the interest of retail investors.
The return generated between the purchase amount and the sale or amortization amount of the Treasury Bills, regardless of their term, has three sections of the taxable base for taxation:
According to the criteria of The Trust Project
