RESIDENTS
If you are a Spanish resident, you will have to pay resident taxes and according to the resident tax scale. This means that you will have to declare all your income and assets you have worldwide, no matter the country in which they are originated. In certain cases, you could be taxed by both, the country of origin and Spain. Our team will revise your personal situation to avoid double payments and to ensure the maximum tax savings as possible. Check out all the services we can help you with, all our services for residents on this page.
SPANISH INCOME TAX
All Spanish residents must file a Spanish Personal Income Tax. Tax is applicable to all worldwide income obtained during the calendar year. In some situations, you could be taxed by the country of origin and Spain.In this case, it is important to revise the international Double Taxation Agreement
CAPITAL GAINS
Spanish residents must pay capital gains on the profits obtained from the sale of their property or any type of financial assets such as funds or shares. Residents must declare any capital gains they have in both Spain and overseas. It is essential to check if an international Double Taxation Agreement has been signed between Spain and the country of origin to make sure we can apply for double taxation allowance.
SPECIAL TAX REGIME (BECKHAM LAW)
The Beckham Law is a special tax regime that enables foreigners who move to Spanish territory to pay a flat rate of 24% on your first 600,000 € of income and the excess over this amount at 47%. You will only be taxed on your Spanish earnings and foreign income from employment. Any other worldwide income or capital gains will not be taxed. This situation also applies to workers who were Spanish residents that have been abroad at least 5 years.
SELF-EMPLOYED EXPATS (Autónomos)
If you are an expat and want to start your own business and become registered as a self-employed (autónomo). Our team of experts will provide you with legal, tax, bookkeeping and social security support and advice about the pros and cons of this option. We take care of preparing the bookkeeping process as per Spanish regulations and calculate and submit quarterly and annual taxes.
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FORM 720
Tax form 720 is an informative declaration of overseas assets that a Spanish resident holds outside of Spain. This form does not require any payment, it is just informative. Not everyone that have assets abroad is obliged to submit this form, there are some limits that apply in order to be exempted to present it.
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WEALTH TAX
The Wealth Tax in Spain is an annual tax on the total net value of assets. As an Spanish resident, it will apply to all worldwide assets. Not everyone that have assets is obliged to file this form. There are significant tax allowances which may also change according to where you live and where the asset is held. As such, a thorough analysis of your specific situation is essential.
INHERITANCE AND DONATIONS
As a Spanish resident, you will pay tax if you receive a inheritance or donation from both Spanish residents and non-residents (for example, parents who live in your country of origin/a country that is not Spain). Significant tax allowances can vary according to the region of Spain and the relationship with the deceased or the donor.