Tax in Spain: Tips to file the income tax  and wealth tax in Spain efficiently

tax in spainTax in Spain: It´s again time to file your Income Tax and Wealth tax in Spain. The fiscal advisors and accountants of our multilingual Spanish law firm in Marbella have the pleasure to analyse some recommendations in order to file the income and wealth tax refund in an efficient way.

1) Before granting the corresponding Spanish Income Tax and wealth tax, we must compile all necessary documents as well as the fiscal information from the tax office ( Inland Revenue in Spain).


Spanish tax revenue monthly report March 2014

belasting in Spanje The multilingual Spanish accountants and lawyers in Marbella of law firm Arcos & Lamers Asociados has the pleasure to inform you about Spanish Tax Revenue´s as per information obtained at Spanish national tax authorities the first quarter total tax revenue amounted to €38.9 billion and increased by 7.0% compared with the same period of 2013 (€2.6 billion more).

Gross revenue grew by 5.1% in the first three months of the year (€2.5 billion) and, at the same time, refunds fell by 1% (€0.1 billion), both measured after amending changes in public debt interest’s distortion.

Spanish law firm informing on Tips for the sale of your property in Spain

tax in spainIn the event that you are thinking in selling your property in Spain, our Spanish law firm in Marbella would suggest to carry out a very simple procedure, in order to avoid unnecessary  future delays in the transaction.

To this effect, the following searches should be carried out, to ascertain that all the documentation related to your Spanish property is in order:

1º.- The multilingual speaking lawyers in Marbella of our firm would recommend to obtain a “nota simple” or certificate from the Land Registry in Spain, to verify that the property is duly registered in your name, and possible charges on the same, i.e. a mortgage which has been fully repaid to the Bank, but not cancelled yet at the Registry.

How to obtain a copy of a will granted in Spain or to find out whether a Spanish will was granted or not

Testament in SpanjeIn order to find out the existence of a Will in Spain, or to obtain a copy of the same, it is necessary to obtain the Death Certificate.

With this Death Certificate, it will be possible to apply, to the “Registro de Actos de Última Voluntad” (Last Wills Registry) a certificate of the last Spanish Will of the deceased, which will show if the person  already granted a Will in Spain, and details of the Notary where the Will was granted

Once the Notary has been localised, the heirs will be able to obtain a legal copy of the Spanish Will.

In addition to the Death Certificate, it is required to pay a duty and to complete the tax form number 790, to be presented to a financial institution collaborating with the Tax Agency, to proceed with the corresponding payment.

Spanish TAX CALENDAR – 2nd Quarter 2014

 Spanish tax timeFollowing our previous post with regards to the Spanish tax calendar 1st Quarter 2014, the accountants and tax advisers of our firm Arcos & Lamers Asociados have prepared the one corresponding to the 2nd Quarter2014.  The information included in the calendar regarding the 2nd Quarter 2014 is general information and will focus on Spanish tax obligations relevant to a majority of our clients.  For this reason not all Spanish tax liabilities and declarations will be included.


Sistema de seguridad social

social security in SpainOur law and accountancy firm, Arcos & Lamers Asociados, would like to introduce you briefly to the Spanish Social Security System.

Spanish Social Security System

The Spanish Social Security System is a set of Schemes thought which the state aims to guarantee a suitable protection in the contingencies and situations defined by Spanish law to the groups included in the schemes. This will be due to the professional activity carried out or because it meets a set of requirements which enable to be classified as non-contributory as well as their dependant family members of both groups.


Taxation related to Spanish properties for non residents – PART 2- Income tax in Spain

Spanish taxIf you are a private individual, Non-Resident in Spain for tax purposes and you are planning to purchase a property in Spain you should learn of the Spanish tax obligations you will be liable to.

Once you purchase a real estate in Spain you will be liable to the following Taxes:

  • Non Resident Income Tax in Spain:
  • Income Calculated on Urban property for Personal use (Spanish Deemed Income Tax).
  • Income on Rented Building.

Both above mentioned alternatives fall under the Spanish expression (Impuesto Sobre la Renta de No Residents – I.R.N.R).


Taxation on Spanish properties for non residents- PART 1- Rates and wealth tax in Spain

 tax in spainIf you are a Non-Resident in Spain for tax purposes and you are planning to buy a property in Spain you should learn of the Spanish tax obligations you will be liable to.

Once you purchase a real estate in Spain you will be liable to the following Taxes:

  • Local Property Tax (Rates)
  •  Spanish Wealth Tax.
  • Non Resident Income Tax the so called Impuesto sobre la Renta de No Residentes (I.R.N.R.) :
  • Income Calculated on Urban property for Personal use (Deemed Income Tax).
  • Incomes on Rented Building

Calculation of capital gains tax on the sale of real property in Spain. Spanish Tax rate for non-residents

Capital Gain Tax in SpainCapital Gain tax in Spain; The difference between the value of the transfer and the readjusted acquisition value constitutes the Spanish capital gains subject to tax.

If the property in Spain is being transferred by a natural person who acquired it prior to 31st December 1994, the gains established according to the above will be reduced as such transfer is subject to a transitory system.

If the transferor acquired the property on two different dates or improvement works have been carried out at the property, the calculation must be made as if it concerned two different Capital gains.

Partial exemption:

Readjustment Coefficients and basic rules for the calculation of the capital gain tax in Spain

Readjustment Coefficients Capital gain Tax in Spain; The new coefficient of readjustment of the acquisition value of a property in Spain are set out in the national budget for the year 2014, which entered into force pursuant to the Spanish Law 22/2013 of 23rd December, published in the Official State Gazette (B.O.E.) of the 16th.

It is essential to take into account the readjustment coefficients indicated below when calculating the increase of wealth for the purposes of Personal Income Tax (I.R.P.F), Non-resident Income Tax and Wealth Tax, among other reasons, for the transfers of real properties not linked to economic activities carried out during the year 2014.