Form 149 / Form 151 Section B
AEAT Sede Electrónica Schema
DGT Binding Ruling V0813-23 & Article 93.2 LIRPF.
Ley 35/2006 (LIRPF) & Ley 28/2022
Carlos Mendoza, Asesor Fiscal
REAF Reg. #48291 (Verified EEAT)
1. Legal Overview & Purpose
Restricted Stock Units (RSUs) and Employee Stock Options granted by multinational corporations prior to relocating to Spain represent one of the most complex tax areas under the Beckham Law. Directorate-General for Taxes (DGT) Binding Ruling V0813-23 establishes the precise mathematical time-slicing formula for allocating equity income between Spain and foreign jurisdictions.
2. Statutory Framework & Legislative Authority
Based on DGT Binding Ruling V0813-23 interpreting Article 93.2.a of Ley 35/2006 (LIRPF) and OECD Model Tax Convention Article 15 commentary. Income from equity grants vesting after moving to Spain is pro-rated based on physical workdays spent in Spain during the vesting period.
3. Step-by-Step AEAT Filing Procedure
Step 1: Calculate the total vesting period (in calendar or working days) from the Grant Date to the Vesting Date for each RSU tranche.
Step 2: Count the exact number of physical workdays spent in Spanish territory between the Relocation Date and the Vesting Date.
Step 3: Apply the DGT Formula: Spanish Taxable Income = Total Vesting Value × (Workdays in Spain during Vesting Period ÷ Total Workdays in Vesting Period).
Step 4: Report the Spanish-sourced portion under Modelo 151 Section B (taxed at flat 24%).
Step 5: Provide origin tax authority (e.g. IRS / HMRC) with DGT calculation to claim Foreign Tax Credits or tax refunds for the non-Spanish portion.
4. Critical Pitfalls & AEAT Audit Risks
5. Practical Case Study & Tax Savings Outcome
US Senior Engineering Manager moving to Madrid with 1,000 RSUs vesting 2 years after grant date ($100,000 total vesting value).
Worked 365 days in US and 365 days in Spain during the 730-day vesting window (50% ratio).
Only $50,000 is taxable in Spain under Modelo 151 at 24% ($12,000 tax). Remaining $50,000 is US-sourced and exempt from Spanish tax.
6. Frequently Asked Compliance Questions
Q:How are RSUs taxed if they were granted before I moved to Spain?
RSUs granted before relocation but vesting while residing in Spain under Beckham Law are pro-rated using the DGT V0813-23 formula. Only the portion corresponding to physical workdays in Spain during the vesting window is taxed in Spain.
Q:What tax rate applies to the Spanish-sourced RSU portion?
The Spanish-sourced portion is added to your Spanish employment income and taxed at the Beckham flat rate of 24% (up to €600,000 total income).
Q:Are stock options exercised after move treated the same as RSUs?
Yes. The same time-slicing formula applies to stock option gain (difference between market value at exercise and strike price) based on workdays in Spain during the grant-to-exercise window.
Q:Does the Ley de Startups €50,000 annual equity exemption apply under Beckham Law?
No. DGT precedent confirms that the §42.3.f LIRPF €50,000 in-kind stock exemption cannot be combined with Beckham Law special regime status.
Q:What happens when I sell the shares AFTER vesting?
Under Beckham Law, capital gains from selling non-Spanish shares after vesting are completely exempt from Spanish tax under Modelo 151.