The Spanish tax system comprises three kinds of taxes: "impuestos" (true taxes), "tasas" (dues and fees) and "contribuciones especiales" (special levies). The "tasas" and "contribuciones especiales" are collected in return for a public service provided by the authorities or for any type of benefit as a result of public works or services.
 
True taxes are divided into direct and indirect taxes.

Direct taxes are those which depend directly on the economic capacity of the contributor. Spanish direct taxes are as follows:

· Personal Income Tax (PIT): Personal income tax is called Impuesto de Renta sobre las Personas Fisicas or IRPF. It is applicable to Spanish tax residents who will be subject to Spanish taxation on their worldwide income.

· Non-resident income tax (NRIT): Non-resident natural and legal persons who obtain income from a Spanish source as defined in Spanish tax legislation.

· Corporate Income Tax (CIT): Spanish resident companies are liable to corporation tax on all sources of income and capital gains, wherever arising. A company is deemed as resident in Spain if it is incorporated in Spain, it has its registered office in Spain or its actual management is in Spain.

· Inheritance and donations tax: Inheritance tax in Spain will be levied on the inheritance of assets after the donor’s death and a gift tax applies to gifts made during the donor’s lifetime.

· Wealth tax: So called Impuesto de Patrimonio, it is payable by residents and non-residents based on assets held at 31st December every year. Spanish residents are liable on their worldwide assets, and non-residents are liable for wealth tax only on their Spanish assets.

Indirect taxes: those levied on the purchase or consumption of certain goods or services. Spanish Indirect taxes are the following:

· Value added tax (VAT): It is a general, broadly-based tax on consumption assessed on the added value of goods and services.

· Property transfer tax: Transfers which are not taxed by VAT are taxed by the transfer tax. This tax applies if the property is deemed to be a second or subsequent transfer. It might apply to movable or immovable properties.

· Spanish excise duties: Where appropriate, these apply to the introduction into Spanish territory of certain goods, as well as to the registration of certain means of transport. In this category falls the Special tax on certain means of transports (matriculation tax).


The information and comments herein do not and are not intended to constitute legal advice to any person on any specific matter.The publishers and the authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance on the whole or any part of the contents of this publication.
Tax Marine Spain is an independent firm registered in Spain with number 42/120/408646. Registered office and principal place of business Gran Via de Carlos III, 94m 5º 2ª – 08028 Barcelona.


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