Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 168

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 168
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 permanent establishment in Spain in respect of the Common Shares are subject to the Spanish NRIT, and therefore a 19%
withholding tax is currently applied on the gross amount of dividends.

The Order of April 13, 2000 establishes the procedure
applicable to dividend payments made to Holders subject to the Spanish Non-Residents Income Tax.

However, when a DTT applies, the non-resident is entitled to the Treaty-reduced rate. To benefit from
the Treaty-reduced rate, the non-resident must provide to the Issuer or to the Spanish resident depositary, if any, through which its Common Shares are held, a certificate of tax residence issued by the tax
authorities of the country of residence, within the meaning of the relevant DTT.

In addition, pursuant to the provisions set forth under
Article 14.1.h) of the Non-Resident Income Tax Law, non-Spanish corporate Holders with residence in the EU who (i) hold at least 5% of the share capital of a
Spanish

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Company, and (ii) who hold the relevant shares for an uninterrupted period of at least one year (which requirement may be fulfilled after the dividend deriving from the relevant shares is
received), may benefit from an exemption from NRIT on dividends deriving from the relevant shares, provided that the rest of conditions of Article 14.1.h) NRIT are met.

The aforesaid exemption will be applicable, subject to the compliance of similar requirements, to dividends distributed by a Spanish
subsidiary to its EEA parent company provided that there is an effective exchange of tax information with such EEA parent company’s country.

However, this exemption from NRIT will not apply if the majority of the voting rights in the parent company of the Spanish Company in which
the relevant shareholding is acquired are held, directly or indirectly, by natural or legal persons which are non-resident in the EU or in a country of the EEA with an effective exchange information procedure
according to Law 36/2006, of November 29 unless it can be demonstrated that the formation and performance of the relevant Spanish Company was and is carried out for valid economic reasons and substantial business reasons.

In addition, the aforesaid exemption will not be applicable if the dividend is obtained through a country or territory that is defined as a non-cooperative jurisdiction (jurisdicción no cooperativa) by Spanish regulations.

Taxation of capital gains

Capital gains realised by