Economic Policy

Rules applicable to any economic prize

As established by Law 35/2006 of November 28, which approves the Personal Income Tax and by Royal Legislative Decree 5/2004, of March 5, which approves the text consolidated from the Non-Resident Income Tax Law, the cash prizes derived from participation in the competition are subject to taxation. Likewise, in the event that the participant is a professional athlete, the prize will be subject to Value Added Tax.

It will correspond to SHARMA CLIMBING, S.L. making the corresponding withholding.
SHARMA CLIMBING, S.L. will not be responsible for compliance with the tax obligations of the winner or winners.
In order for the corresponding withholdings to be made, the beneficiary of any prize must sign a document justifying receipt of the prize, provide their tax information and a copy of their identification document (DNI/NIE in the event of being a tax resident in Spain and Passport and Spanish NIF in case of not being a tax resident in Spain). Likewise, they must sign a declaration on the knowledge of the taxation in Spain of said prizes.