Last updated 2026-06-27
Telefónica SA (TEF)
Telefónica SA (TEF, ISIN ES0178430E18) is a Telecom company domiciled in Spain, which withholds 19.0% on dividends paid to non-residents. Investors resident in a tax-treaty country can reclaim the excess above their treaty rate (typically 15%) — up to 4.0 percentage points — by filing Modelo 210 with the Agencia Tributaria (AEAT).
Worked example
You receive EUR1,000 in Telefónica SA dividends
Illustrative, using the typical 15% treaty rate. Your exact treaty rate depends on your country of residence — see the table below.
How much can you reclaim, by residence country?
Spain withholds 19.0% on Telefónica SA dividends. Here's the reclaimable amount for investors resident in each country. Click a row for the full guide.
| Your residence | Treaty rate | Reclaimable | |
|---|---|---|---|
| 🇺🇸United States | 15% | 4.0% | |
| 🇬🇧United Kingdom | 15% | 4.0% | |
| 🇩🇪Germany | 15% | 4.0% | |
| 🇫🇷France | 15% | 4.0% | |
| 🇳🇱Netherlands | 15% | 4.0% | |
| 🇧🇪Belgium | 15% | 4.0% | |
| 🇨🇭Switzerland | 15% | 4.0% | |
| 🇮🇹Italy | 15% | 4.0% | |
| 🇸🇪Sweden | 15% | 4.0% | |
| 🇳🇴Norway | 15% | 4.0% | |
| 🇩🇰Denmark | 15% | 4.0% | |
| 🇫🇮Finland | 15% | 4.0% | |
| 🇦🇹Austria | 15% | 4.0% | |
| 🇵🇹Portugal | 15% | 4.0% | |
| 🇮🇪Ireland | 15% | 4.0% | |
| 🇵🇱Poland | 15% | 4.0% | |
| 🇱🇺Luxembourg | 15% | 4.0% | |
| 🇦🇺Australia | 15% | 4.0% | |
| 🇨🇦Canada | 15% | 4.0% | |
| 🇸🇬Singapore | 15% | 4.0% | |
| 🇯🇵Japan | 15% | 4.0% |
Which form do you file?
To reclaim Spain withholding tax on Telefónica SA dividends, you file Modelo 210 with the Agencia Tributaria (AEAT) (deadline: 4 years). See the full Spain reclaim guide.
Frequently asked questions
How much withholding tax is deducted from Telefónica SA dividends?
Spain withholds 19.0% at source on Telefónica SA (TEF) dividends paid to non-resident investors.
How much Telefónica SA withholding tax can I reclaim?
If you live in a country with a Spain tax treaty, you can usually reclaim down to a 15% treaty rate — about 4.0 percentage points of each dividend. Your exact figure depends on your country of residence (see the table above).
Which form do I file to reclaim Telefónica SA withholding tax?
Modelo 210 — filed with the Agencia Tributaria (AEAT). The deadline is 4 years.
What is the ISIN for Telefónica SA?
Telefónica SA trades under ticker TEF with ISIN ES0178430E18, listed in Spain.
Own Telefónica SA? Calculate your reclaim
Tax Reclaim works out exactly how much Spain withholding tax you can recover and generates the filing-ready form.
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