October may apply a tax rate to your earnings according to your country of fiscal residence. In order for us to define this tax rate, we will ask you to send us a proof of tax residency if the country of your ID does not match the one of the postal address you entered when signing up to October.
If you are a French fiscal resident, interests are subject to the progressive rate of income tax and social security contributions. In practice, a fixed advance is withheld at the time of the payment of interests, which correspond to:
- 12.8% of the interests for income tax,
- 17.2% of the interests for social contribution (CGS, CRDS …).
The amount withheld is then either deducted from your total income tax to be paid the following year or is refundable in case of surplus (as a refundable credit tax).
You can find these tax withdrawals on your Portfolio page in the section "Past Transactions".
If you are a Spanish fiscal resident, in accordance with Spanish law, October will withhold 19% of your earnings as Personal Income Tax, which will be transferred to the Spanish Tax Agency.
If you are an Italian fiscal resident, in accordance with Italian law, October will withhold 26% of your income for income tax purposes, which will transfer to the Italian Tax Office.
Other countries 🌍
If you are not fiscally resident in France, Italy or Spain, no taxes are withheld on your returns and you will have to declare those interests yourself in your country of residence.