Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 51

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 51
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IT |

If the Notes are not listed on a regulated market, a multilateral trading facility or an organized market in an OECD country on any payment date, interest or income from the redemption or repayment obtained by holders will be subject to withholding tax at the then-applicable general rate (currently set at 19% on account of IIT, CIT or NRIT, as applicable), except in the case of holders who are: (a) resident in a Member State of the EU (other than Spain) or in a Member State of the European Economic Area (other than Spain) which has entered into an effective exchange of tax information agreement with Spain, and obtain the income either directly or through a permanent establishment located in another Member State of the EU (other than Spain) or in a Member State of the EEA (other than Spain) which has entered into an effective exchange of tax information agreement with Spain, provided that such holders (i) do not obtain the income on the Notes through a permanent establishment in Spain or in a country or jurisdiction which is not a Member State of the EU or a Member State of the EEA which has entered into an effective exchange of tax information agreement with Spain and (ii) are not resident of, or are not located in, nor obtain income through, a non-cooperativejurisdiction for Spanish tax purposes (in the terms of the First Additional Provision of Law 36/2006, of 29 November, on prevention measures and actions against tax fraud, as amended through Law 11/2021, of 9 July, and as amended, complemented and restated from time to time) or through a Member State of the EEA not having an effective exchange of tax information agreement with S-30

Spain in force; or (b) Spanish financial entities which comply with the requirements established in Article 61.c), or Spanish securitization funds which comply with the requirements established in Article 61.k), of the Corporate Income Tax Regulations approved by Royal Decree 634/2015, of 10 July 2015, or non-Spanishfinancial entities acting through a Spanish branch which comply with the requirements established in Article 8.1 of the Non-ResidentIncome Tax Regulations approved by Royal Decree 1776/2004, of 30 July 2004; or (c) resident for tax purposes of a country which has entered into a DTT with Spain which provides for an exemption from Spanish tax or a reduced withholding tax rate with respect to interest payable to