Are there any taxes applicable to my income generated on VIAINVEST?

As income generated on VIAINVEST is a subject of Withholding Tax, VIAINVEST offers investors to choose 2 ways how these commitments can be handled:

1. Withholding Tax can be applied to the income generated on VIAINVEST within the platform. If the investor does not provide required documents and agrees that his income will be taxed within the platform, no additional actions are required. Income generated on the platform will be taxed according to the legislation of the loan origin country.

2. For Withholding Tax not to be applied to the income within the platform, the investor must take full responsibility of handling these commitments by himself and provide (upload to the investor profile) the copy of personal Tax Certificate issued by the tax authority of the country of investor's residence. Tax Certificate must be provided before making any investments. If the certificate is not provided all earnings will be taxed in accordance with the appropriate Double Tax Treaty. If the Tax Certificate is uploaded after some investments are made, previously withheld taxes will not be returned to the investor. Only investments that are made after the upload of the Tax Certificate will not be taxed on the platform.

To receive Tax certificate, please get in touch with your local Tax Authority. To provide appropriate Tax certificate, please note that income generated on VIAINVEST are paid to investors by loan originators, not the platform itself. Tax Certificate confirms the existence of Double Taxation Convention between the country of investor tax residence and loan origination country/-ies (in this case - Czech Republic, Spain, Latvia). Without a Tax Certificate all earnings will be taxed in accordance with the legislation of the loan origin country - if the loan origin country is Czech Republic - Withholding Tax is 15%, if Spain - 19%, if Poland - 19% for private individuals and 20% for legal entities. We do not charge Withholding Tax for Latvian loans. Please note that there may be specific cases where Tax/Residence Certificate foresees that investors still need to pay a part of taxes on the platform.

What information do I need to state in my Tax/Residence Certificate?

Tax/Residence Certificate has to include the following mandatory information:

1. Tax Payer Identification Number (depending on the country also referred to as Personal Identification Number, Personal (Identity) Code/Number, National Identification Number, National Identity Number, National Insurance Number),

2. Loan origination countries - Spain, Czech Republic, Poland (this information must be stated in the line confirming existing of the Double Taxation Convention between investor tax residence country and loan origination country),

3. Loan originator addresses. If remuneration debtor addresses are required, please state addresses of loan originators, not VIAINVEST itself. Please use these addresses:

  • Spain - VIACONTO MINICREDIT, S.L.

    Registration No. (NIF): B66402868

    Josep Tarradellas 8-10,

    Ático 3ª 08029 Barcelona

  • Czech Republic - Via SMS s.r.o.

    Registration No. (IČO): 24720275

    Lazarská 1719/5, 110 00 Praha 1,

  • Poland - VIA SMS PL Sp. z o.o.

    Registration No. (KRS): 0000367773

    Al. Jerozolimskie 123A; 02-017 Warszawa

Why does VIAINVEST apply taxes to the income generated on the platform?

VIAINVEST decision to deduct taxes on the platform is based on the interpretation of existing legislation in loan origin countries. According to the regulation, VIAINVEST is legally obliged to retain Withholding Tax on behalf of investors, but corresponding EU treaties between loan origin and investor's tax residence countries may foresee tax reliefs. Investors must note, that in specific cases Withholding Tax may be still partly deducted from earning made on the platform despite providing valid Tax/Residence Certificate. Specific cases regarding investing in loans originated in Poland, or the Czech Republic are described below.

I have provided my Tax/Residence Certificate. Why my income from investing in loans originated in Poland is still taxed?

The obligation to withhold tax from payment of interest to non-Polish residents investing in loans originated in Poland is stipulated in the Article 29.1.1., 30a.1 and 41. of the Polish Law on Personal Income Tax as well as in the Article 21.1.1. and 26. of the Polish Law on Corporate Income Tax. In this case, VIAINVEST tax policy is based on mentioned Polish laws as well as EU treaties for the avoidance of double taxation. If the investor has not provided his/hers personal Tax/Residence Certificate, all income generated from investing in Polish loans are taxed according to the fixed rate set to 19% for private individuals and 20% - for legal entities. Treaties may provide tax reliefs and exempt investors from tax deductions on the platform if the personal Tax/Residence Certificate is provided, but there are several special cases defined by corresponding treaties between loan origin and investor's tax residence countries that foresee tax to be withheld on the platform despite that investors have submitted their Tax/Residence Certificates. Please note the tax is applied only to the earned interest (not the invested principal). The list with all WHT rates for Poland in both regular and special taxation cases is provided below:

Investing in loans originated in Poland
Investor’s tax residence countryStandard WHT rate if Tax/Residence Certificate is not providedWHT rate in special cases (if any) when Tax/Residence Certificate is provided
Private individualLegal entityPrivate individualLegal entity
Austria19%20%5%5%
Belgium19%20%5%5%
Bulgaria19%20%10%10%
Croatia19%20%10%10%
Czech Republic19%20%5%5%
Cyprus19%20%5%5%
Denmark19%20%5%5%
Estonia19%20%10%10%
Finland19%20%5%5%
France19%20%0%0%
Germany19%20%5%5%
Greece19%20%10%10%
Hungary19%20%10%10%
Ireland19%20%10%10%
Italy19%20%10%10%
Latvia19%20%10%10%
Liechtenstein19%20%--
Lithuania19%20%10%10%
Luxembourg19%20%5%5%
Malta19%20%5%5%
Norway19%20%5%5%
Poland
Portugal19%20%10%10%
Romania19%20%10%10%
Slovakia19%20%5%5%
Slovenia19%20%10%10%
Spain19%20%0%0%
Switzerland19%20%5%5%
Sweden19%20%0%0%
The Netherlands19%20%5%5%
The United Kingdom19%20%5%5%
Iceland19%20%10%10%

Additional information:

Treaties for the avoidance of double taxation concluded by EU member states

List of tax treaties between Poland and other countries

Polish Law on Personal Income Tax

Polish Law on Corporate Income Tax

I have provided my Tax/Residence Certificate. Why my income from investing in loans originated in the Czech Republic is still taxed?

The obligation to withhold tax from the payment of interest to non-Czech residents investing in loans originated in the Czech Republic is stipulated in Czech Income Tax Act paragraph 22. article 2. g) point 4. stating that interest is considered as income from resources in the Czech Republic. Therefore such interest must be taxed in the Czech Republic. According to the paragraph 36. article 22., (1) b) point 1 stating that such income is a subject of 15% withholding tax. In this case, VIAINVEST tax policy is based on mentioned Czech law as well as EU treaties for the avoidance of double taxation. If the investor has not provided his/hers personal Tax/Residence Certificate, all income generated from investing in Czech loans are taxed according to the fixed rate set to 15% for both private individuals and legal entities. Treaties may provide tax reliefs and exempt investors from tax deductions on the platform if the personal Tax/Residence Certificate is provided, but there are several special cases defined by corresponding treaties between loan origin and investor's tax residence countries that foresee tax to be withheld on the platform despite that investors have submitted their Tax/Residence Certificates. The tax is applied only to the earned interest (not the invested principal). The list of all WHT rates for the Czech Republic in both regular and special taxation cases is provided below:

Investing in loans originated in the Czech Republic
Investor’s tax residence countryStandard WHT rate if Tax/Residence Certificate is not providedWHT rate in special cases (if any) when Tax/Residence Certificate is provided
Private individualLegal entityPrivate individualLegal entity
Austria15%15%0%0%
Belgium15%15%10%10%
Bulgaria15%15%10%10%
Croatia15%15%0%0%
Czech Republic
Cyprus15%15%0%0%
Denmark15%15%0%0%
Estonia15%15%10%10%
Finland15%15%0%0%
France15%15%0%0%
Germany15%15%0%0%
Greece15%15%10%10%
Hungary15%15%0%0%
Ireland15%15%0%0%
Italy15%15%0%0%
Latvia15%15%10%10%
Liechtenstein15%15%0%0%
Lithuania15%15%10%10%
Luxembourg15%15%0%0%
Malta15%15%0%0%
Norway15%15%0%0%
Poland15%15%5%5%
Portugal15%15%10%10%
Romania15%15%7%7%
Slovakia15%15%0%0%
Slovenia15%15%5%5%
Spain15%15%0%0%
Switzerland15%15%5%5%
Sweden15%15%0%0%
The Netherlands15%15%0%0%
The United Kingdom15%15%0%0%
Iceland15%15%0%0%

Additional information:

Treaties for the avoidance of double taxation concluded by EU member states

List of tax treaties between the Czech Republic and other countries

Czech Income Tax Act

Do I need to provide separate Tax/Residence Certificates for each loan origin country?

The Tax Certificate is needed for all of our loan originator countries, except Latvia. Some tax offices provide Tax Certificate separately for each country, and some of them include them all in one. Tax Certificate must confirm the existence of the treaty for the avoidance of double taxation concluded between the countries of loan origin (except Latvia) and investor tax residence. The list of loan originators and corresponding countries can be found here.

What is the expiration date of my Tax/Residence Certificate?

The expiration date or the period of validity of your Tax/Residence Certificate is usually indicated on the document. Depending on the document template, validation period may be stated as a particular year (for example, 2018) or the start of this period may be indicated by the date of the issue of the document (for example, if no other validity period or notes are stated and your Tax/Residence Certificate is issued on 17.11.2017., it will be valid for a one calendar year until 17.11.2018.). .