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Taxes in Spain
If taxation in your own country can be difficult, when you don’t reside in Spain but have to pay taxes on income earned there, things get even more complicated. What is the IRNR? The Non-Resident Income Tax, known by its acronym IRNR, is a direct tax levied on the income earned in Spanish territory by...
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The price in the sales process is essential for the transaction to be successful. If the asking price is set too high, there will be no buyers, and it will take longer to sell. On the other hand, if the property is priced too low, it may sell more quickly, but the transaction will yield...
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One of the most feared aspects of any transaction is the potential tax implications. When you receive an inheritance in Spain, you’ll also have to pay various taxes. Inheritance tax This tax is primarily applied when an inheritance is received after death. It is paid for the transfer of the deceased’s assets to another natural...
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Everything related to taxes is complex and often feared. In Spain, as in many other countries, there are different taxes applicable to transactions and individuals depending on each individual’s specific situation. Let’s clarify some aspects related to Spanish taxation for foreigners. Which foreigners must declare their income? The difference between declaring income tax and not...
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This year 2024 has ended with a significant increase in home purchases in Spain. This has been motivated by various reasons and may produce changes in the sale and rental prices of properties for next year. Figures on the rise in home sales The number of home sales has increased by more than 50% compared...
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The obligations of non-residents in Spain may be somewhat different from those of individuals or legal entities residing in Spain. Therefore, if you carry out any economic activity or earn income in any way in Spain, it is important to know that you have tax obligations in this country. What obligations do non-residents in Spain...
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When it comes to selling a property, the question arises as to how best to proceed. The way you sell your property can affect the final price and the profit. Selling between private individuals has its advantages. Why sell a property without a real estate agent? The most notable advantages of selling property without an...
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Form 650 may be one the forms you need to submit to the Spanish Tax Agency. It relates to inheritances and is mandatory for anyone who receives one. What is Form 650? Form 650 for self-assessment of the Inheritance Tax is a form used to pay this tax, which arises after a death. It is...
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People who do not reside in Spain are taxed slightly differently when they have ties to the country, either through income or ownership of real estate. However, the IBI is not one of the most complex cases, as it is applied in a similar way to how it is for residents. What is the IBI?...
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If you live in another country you may find yourself at a complete loss as to how much tax you are entitled to in Spain depending on your circumstances. Let’s examine it all in detail. Who is considered a non-resident in Spain for tax purposes? Firstly, it’s important to understand who is considered a resident...
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