Last updated on May 31st, 2023 at 03:58 pm.
Unlike other countries such as the UK, the Spanish tax year runs alongside the calendar year from the 1st of January to the 31st of December. Within that year there are several dates and deadlines to keep in mind. Therefore, in this article, we take a look at those dates and what it is you need to be aware of to fulfil the Spanish tax requirements and avoid penalty.
We would like to remind you that taxation in Spain can be complicated and you could be subject to fines or penalties not only for missing a deadline, but also for not doing your taxes properly. Advisably, you should seek fiscal advice from an expert to avoid possible complications.
Spanish tax year dates
The following chart handily lays out the essential dates for the year:
|Residents||June 30th each year||Resident annual tax declarations (for the previous year)|
|Non-residents||December 31th each year||Non-resident annual tax declarations (for the previous year)|
|Tax on rental income (payable in four instalments for the previous three months)|
A resident is a person living in Spain for more than 183 days in a given year or someone that has considerable economic interests in the country. This group of people will need to make their annual tax declarations before June 30th of each year. This data will include details about their earnings from income and earnings from properties they might hold.
Income tax takes into account all income made in employment or in business from any source around the world. Spain holds double tax agreements with other countries, so you will also need to take this into account.
The Wealth Tax to be paid will depend on the autonomous region where you live. For non-residents, it will be calculated on property held in Spain. However, this sum depends on where the property is located, as there are regional variations.
All foreigners living in Spain who own assets in other countries other than Spain with a value higher than €50,000 will have to complete a modelo 720 form. The deadline for submission of this form is March 31st of each year.
Those who do not permanently reside in Spain will only be subject to pay taxes on earnings made in the country. Tax declarations must be made before the end of the year on December 31st. Therefore, for the year current year, this would refer to earnings made in the previous year. The same rules for residents about income tax and property tax apply.
If a non-resident sells property in Spain, they must declare their income and corresponding tax within three months after the sale.
For landlords, the Spanish tax year is split into trimesters. You will need to declare any rent due in the first trimester and pay it by April 20th. For the following three months, tax owed on income earned will need to be paid by July 20th. The same goes for the next three months, leading up to October 20th and for the rest of the year leading up to January 20th of the following year.
On top of these taxes, there will be local taxes called IBI that you will need to pay annually. The dates vary from region to region as their collection is down to local government.
For more details, please visit this Spanish government website about the complete tax calendar.
Help is available for keeping on top of your taxes
Making sure your taxes are submitted and declared at the right time should be a top priority if you have any income or property in Spain. Hiring a tax representative to ensure that you keep on top of these dates is one first step to taking the hassle out of taxes, leaving you to enjoy the lifestyle Spain has to offer.
Ábaco Advisers have assisted our clients with all their Spanish legal and tax obligations for more than 20 years. To ensure you’re armed with all the information you need, book a free consultation at one of our offices. We can provide you with the information you need according to your individual circumstances.