Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 171

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 171
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 transfer of the Common Shares to individuals by inheritance, legacy or donation shall be subject to the general rules of Inheritance and
Gift Tax in accordance with the applicable Spanish rules even if title passes outside Spain and neither the heir nor the beneficiary, as the case may be, is resident in Spain for tax purposes, without prejudice to the provisions of any DTT signed by
Spain.

If no DTT is applicable, individuals who do not have tax residency in Spain who acquire ownership or other rights over the Common
Shares by inheritance, gift or legacy will be subject to Inheritance and Gift Tax in accordance with Spanish legislation. Non-Spanish tax resident individuals are subject to Spanish Inheritance and Gift Tax
according to the rules set forth in the relevant autonomous regions according to the law. As such, prospective shareholders should consult their tax advisers.

The State’s effective tax rate, after applying all relevant factors, ranges between 0% and 81.6%.

In the event that the beneficiary is an entity other than a natural person, the income obtained shall be subject to Corporate Income Tax or Non-Resident Income Tax, as the case may be, and without prejudice, in the latter event, to the provisions of any DTT that may apply.

Individuals with Tax Residency in Spain

Personal Income Tax

According to the PIT Law the following, amongst others, must be treated as gross capital income: income received by a Spanish shareholder in
the form of dividends, consideration paid for attendance at shareholders’

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meetings, income from the creation or assignment of rights of use or enjoyment of the shares and any other income received in his position as shareholder.

Gross capital income is reduced by any administration and custody expenses (but not by those incurred in individualized portfolio management);
the net amount is included in the relevant Spanish shareholder’s savings taxable base at the applicable rate (currently varying from 19% to 28%).

The payment to Spanish shareholders of dividends or any other distribution will be generally subject to a withholding tax at the
then-applicable rate (currently set at 19%.). Such withholding tax is creditable from the PIT payable; if the amount of tax withheld is greater than the amount of the net PIT payable, the taxpayer is entitled to a refund of the excess withheld in
accordance with the PIT Law.

Gains or losses recorded by a shareholder subject to PIT as a result of the transfer of ordinary shares qualify for the purposes of the PIT Law
as capital gains or losses and are subject to taxation according