Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 164

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 164
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 unless the Preferred Securities comply with the exemption requirements specified in letter s) of Article 61 of the CIT Regulations, as interpreted by the ruling No. 1500/04 issued by the Spanish General
Directorate for Taxes (Dirección General de Tributos) dated July 27, 2004, which requires that (i) the Preferred Securities are placed outside of Spain, in another Organization for Economic
Co-operation and Development (“OECD”) jurisdiction, and (ii) the Preferred Securities are admitted to trading in an organized market of a OECD jurisdiction other than Spain.

S-101

Amounts withheld, if any, may be credited by the relevant investors against their final CIT
liability.

Wealth Tax

Legal entities are not subject to Wealth Tax.

Inheritance and Gift Tax

Legal entities resident in Spain for tax purposes (and NRIT taxpayers acting through a permanent establishment in Spain, as described below)
which acquire ownership or other rights over the relevant securities by inheritance, gift or legacy are not subject to Spanish Inheritance and Gift Tax.

Individuals and Legal Entities with no Tax Residency in Spain

Non-ResidentIncome Tax

If the Preferred Securities form part of the assets affected to a permanent establishment in Spain of a person or legal entity that is not
resident in Spain for tax purposes, the tax rules applicable to income deriving from such Preferred Securities are, generally, the same as those set forth above for Spanish CIT taxpayers. See “—Preferred Securities—Legal Entities with Tax Residency in Spain—Corporate Income Tax” above.

Ownership of the Preferred Securities by investors who are not
resident in Spain for tax purposes will not in itself create the existence of a permanent establishment in Spain.

Income obtained by Holders who are not tax resident in
Spain acting for these purposes without a permanent establishment within Spain is exempt from NRIT, on the same terms laid down for income from Spanish public debt.

In order for the exemption to apply, it is necessary to comply with certain information obligations relating to the Preferred Securities, in
the manner detailed under “—Tax Reporting Obligations of the Issuer” as laid down in Article 44 of RD 1065/2007. If these information obligations are not complied with in the manner indicated, the Issuer will withhold at the
rate applicable from time to time (currently 19%) and the Issuer will not pay Additional Amounts.

In any case, please note that non-resident investors acting without a permanent establishment in Spain may benefit from a withholding tax exemption