Spain Explained

A guide for foreigners on every aspect of safe property ownership in Spain

Posts filtered by Tax requirements in Spain

Non resident property tax in Spain

Non resident property tax in spain

Last updated on April 30th, 2020 at 05:12 pm. What often confuses non-residents is that there is more than one tax to pay. Most people understand that there will be some form of council tax in Spain that will need to be paid annually. In addition to this, however, non-residents must also pay either: Rental […]

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Tax in Spain for residents: Read our quick guide

guide to tax in Spain for residents

Last updated on February 23rd, 2021 at 10:10 am. Retirement in Spain is still a very popular choice. When better to take advantage of Spain’s beautiful climate and perfect pace of life than when you have the time to really enjoy it? However, what you don’t want whilst you are enjoying your new lifestyle are […]

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Spanish tax forms foreigners need to complete to avoid penalties

Spanish tax forms

Last updated on April 30th, 2020 at 05:14 pm. Living in Spain brings with it fantastic opportunities to enjoy a different culture, climate and pace of life. Whatever stage of life you are at, it is a rewarding experience. When moving to another country, though, one must be aware of the tax procedures in place. […]

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Do you pay tax when you sell your house in Spain?

Do you pay tax when you sell your house

Last updated on June 26th, 2020 at 05:07 pm. When people are selling their property in Spain, they wonder, “do you pay tax when you sell your house?” Generally, this type of taxation falls under capital gains tax (CGT), which can be complex. Capital gains tax applies in most countries when you sell a property. […]

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Calculating capital gains tax in Spain when selling your property

Capital gains tax Spain

Last updated on June 3rd, 2020 at 07:21 pm. Capital gains tax is applied in most countries and Spain is no exception. Essentially, capital gains tax is a levy imposed on the sale of a non-inventory asset, that is, a capital asset that’s not likely to be liquidated into cash within a year. The most […]

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Spanish tax on rental income: rates, deadlines and recommendations

Spanish tax on rental income

Last updated on November 10th, 2020 at 01:50 pm. British nationals are by far the largest group of foreign homeowners in Spain. Many keep their property as a holiday home or only live there part time, either renting their property to other holiday makers or long term tenants for some of the year. For many, […]

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IBI in Spain: What is it and how to pay

IBI in Spain

Last updated on April 24th, 2020 at 03:09 pm. If you’ve bought a property, you’ve likely come across IBI in Spain. This tax is basically Spain’s equivalent of council tax.  Impuesto sobre Bienes Inmuebles, or IBI, is a tax that every property owner in Spain has to pay. Either your local town hall or SUMA […]

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Non-resident tax in Spain: The complete guide

Non-resident tax in Spain

Last updated on June 30th, 2020 at 04:17 pm. For many non-residents in Spain, the deadline for tax returns will be here by the end of the year. Non-resident tax in Spain amounts to a complicated time for many, so we at Ábaco Advisers try to answer some of your questions.  However, we would like […]

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Taxes in Spain: The complete guide

Taxes in Spain

Last updated on May 15th, 2020 at 02:46 pm. Taxes in Spain depend on your residency status. Both resident and non-residents have to pay taxes in Spain and make Spanish tax declarations but they are at different times of the year. We would like to remind you that taxes in Spain can be complicated and […]

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What you can and can’t be taxed on in spain

Last updated on April 30th, 2020 at 05:33 pm. One thing you will soon become familiar with if you spend time in Spain are the range and variety of taxes. Most of them are the same as you would expect in your home country. However, one or two might take you by surprise. Like all […]

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Did you miss the non-resident tax declaration deadline?

Last updated on April 30th, 2020 at 05:37 pm. December 31st was the deadline for the non-resident tax declaration. This is the form that every non-resident is required to complete annually. It’s a busy time of year and so it isn’t surprising that it can fall off the list of To-Dos. If this applies to […]

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Renting in Spain – the tax implications

renting-in-spain-tax-implications

Last updated on April 30th, 2020 at 05:39 pm. Renting is a good option if you are looking to make some money out of a property you have bought in Spain. Whether it is a short term or long term let, renting is increasingly popular and many different types of property are in demand. Some […]

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Demystifying the valor catastral

valor-catastral-spain

Last updated on April 30th, 2020 at 05:42 pm. Like most countries, you must pay council tax in Spain. But what is it and how is it calculated?  In this article Linda Robertsson Posada, from the fiscal department, explains IBI and the role that the valor catastral has to play. However, we would like to […]

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Making a resident tax declaration in Spain

Tax declaration in Spain

Last updated on March 25th, 2021 at 03:34 pm. If you are a resident in Spain then it is very likely that you will have to make a resident tax declaration annually. This declaration or tax return provides evidence of your income in Spain that can be used for a number of reasons, including determining […]

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New Spanish tax law for 2015

spanish-tax-law

Last updated on May 9th, 2020 at 03:58 pm. The new tax legislation in Spain has been debated for a while. Originally proposed in June 2014 it has now been passed and will come into force from the income year 2015. The new law brings with it implications for both residents and non-residents. In most […]

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Myth busting – Spanish complementary tax

spanish-complementary-tax

Last updated on May 9th, 2020 at 04:01 pm. We’ve recently been reading letters in some well-known free papers from people who really have got their facts wrong. Nothing new there may be, but we feel that some of the myths around complementary tax, if you believe them, could cost you a lot of money. […]

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Changes to Spanish capital gains tax

spanish-capital-gains-tax

Last updated on June 3rd, 2020 at 07:25 pm. It’s perhaps a symptom of government austerity that taxation is a particular target for change. It is one of the best means of increasing revenue but must also be handled carefully if your electorate are not to be upset as an election year approaches. As the […]

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Proposals for capital gains tax in the UK

capital-gains-tax-in-the-UK

Last updated on June 3rd, 2020 at 07:26 pm. It might come as a surprise to know that in the UK, until now, capital gains tax (CGT) wasn’t payable by non-residents when selling property there. This is perhaps one reason why house prices in London have risen to such exorbitant levels. They have become a […]

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Will you benefit from the tax reform?

will-you-benefit-from-the-tax-reforms

Last updated on May 9th, 2020 at 04:06 pm. A draft Spanish tax reform law was approved on the 20th June. The new reforms were proposed by the finance minister Cristobal Montoro at a meeting of the Council of Ministers and are intended to be introduced by January 2015. In this article we will go […]

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Bringing your Spanish paperwork up to date

spanish-paperwork

Last updated on May 9th, 2020 at 04:08 pm. So, here we are in Spring. If you live on the Costa Blanca or have spent much of the past few months out here, you will perhaps feel that winter passed us by this year. Now, we have the promise of all the spring and summer […]

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Tax, tea and travel in Mazarrón

Last updated on October 14th, 2019 at 08:56 am. It’s an important time of the year for residents in Spain. The end of March is the deadline for those who have to present the 720 this year and the 30th June is the deadline for the annual resident tax declaration. We know that many people […]

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Tackling Spanish paper work

spanish-paperwork

Last updated on May 9th, 2020 at 04:10 pm. If you are a resident, living in Spain, how did you approach Spanish paper work: no time like the present – I tackled it straight away and got everything done as soon as I could poco a poco – no rush I just took one piece […]

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Why you should make a resident tax declaration in Spain

resident-tax-declaration-in-Spain

Last updated on May 9th, 2020 at 04:11 pm. Would you do a good deed if you didn’t anticipate a reward of some kind from it? The concept of the random act of kindness has taken root. In case you haven’t heard of this, there is even a website dedicated to it: http://www.randomactsofkindness.org/ Wikipedia describe […]

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Must you make a resident tax declaration in Spain?

Last updated on March 25th, 2021 at 04:05 pm. Do you enjoy sudoku? Are you one of those people whose coffee table is piled high with completed, half completed and ready to complete puzzle books? Working with numbers is absorbing; it can also be frustrating at times. When you are locked in battle with a […]

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The 720 asset declaration form

720-asset-declaration-form-spain

Last updated on May 9th, 2020 at 04:15 pm. Every resident who has assets outside of Spain that total over 50,000€ within any one group, must complete the asset declaration form in Spain before the deadline or risk incurring a substantial fine. The groups are: bank accounts (group 1) pension plans and investments (group 2) […]

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