By Welex, your tax advisor in Marbella reports on the greater hardening of the highest income corresponding to savings in Spain (dividends, interests, capital gains) and the recovery of the wealth tax that becomes indefinite.
How will the taxable base of savings in Spain (dividends, interest and capital gains) be taxed from 2021?
Well, thanks to the General State Budgets that has been published in December 2020 and which is applicable as of 01.01.2021, an increase of 3% is established for savings income from 200,000.00 euros.
We refer to the income produced by interest, capital gains at the time of the sale of a property or dividends, leaving the tax scale as follows:
Scale of taxes on savings in Spain (from 2021)
Up to euros
Up to euros
Are you a tax resident in Spain and do you have a capital increase from the sale of a property in Spain?
Do you plan to receive dividends and are you a tax resident in Spain?
Do not hesitate to contact our tax advisers in Marbella to inform you about the taxation of different types of income and that they can assist you in correct tax planning in Spain.
The purchase and sale of a second transmission property in Spain, that is to say, where the seller is a private individual or the property has already been inhabited, is subject to the Property Transfer Tax in Spain. This tax varies depending on the autonomous community where the property is located.
There are people that reside in different countries, or spend certain periods of time during the year in one or another country, and might not know that, when having to file the tax return, there is a specific income tax to be paid in accordance to whether you are resident or not.
To know whether your are tax resident in Spain, we must have a look at article 9 of the Law on Income Tax of the Spanish Tax Office, that sets forth that a natural person is tax resident in three cases.
From Welex, your tax adviser in Marbella , we explain you the main difference between direct and indirect taxes in Spain is the basis on which they are applied.
While direct taxes tax people’s wealth, indirect taxes tax how this wealth is used. Most Spanish tax payers spend on average 43% of their income on paying taxes. But these are differentiated into direct or indirect taxes.
It is curious that among the posts on our blog, our professional lawyers specialized in Real Estate Law in Spain have never analyzed on any occasion, or just did it superficially, the municipal Plusvalia tax in Spain.
So in this blog we are going to give a few insights to the pompous “Tax on the increase in the value of the land of an urban nature”, or better known in Spain as the ”plusvalia tax”.