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Introduction to Spanish tax system
Introduction to Spanish tax system

Patricia Ibarrola Redondo


Spain is divided into 12 different autonomous regions, and taxes are split between state (federal) and regional governments. The most important ones are: personal income, corporate income, non-resident and value added tax. The tax year runs from January 1 to December 31.



The main direct taxes applicable in Spain are:

Personal income tax (PIT – IRPF “Impuesto de la Rentasobrelas Personas Físicas”). It applies to individuals who are tax resident in Spain and they are taxed on their worldwide income. Taxes are split between state and region and each region sets its own tax bands and rate of income tax, so the tax to pay depends on where that person lives.
Corporate income tax (CIT – “Impuesto de Sociedades”). Resident in Spain companies are taxed on their worldwide income. The tax base is calculated from the declared accounting results (Profit and Loss account), and the necessary adjustments according to theCorporate income tax Law.The general CIT rate is 25%.
Non-resident income tax (NRIT – “Impuesto de la Renta de No Residentes”). Both individual and entities not residence in Spain are liable on NRIT only on their Spanish-source income. For example, non-residents will be required to file income tax if they own a property in Spain or if a Spanish company has paid dividends to that person. Also, taxation will differ depending on whether the activity is undertaken as a Permanent Establishment (representative office or branch) or not.


The main indirect one is:

Valued added tax (VAT – IVA “Impuestosobre el ValorAñadido”). It is a general consumption tax assessed on the value of goods and services. Spain applies a standard rate of 21% for most goods and services, but essentials, such as food, water or medicine have a reduced rate. It is not applicable in all the Spanish territory: the Canary Islands, Ceuta and Melilla have a different rate.

References:



Worldwide Tax Summaries, Spain:

http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Spain-Overview



Spanish bureau responsible of collecting taxes at national level, called “AgenciaEstatal Tributaria”

http://www.agenciatributaria.es/AEAT.educacion/Profesores_VT3_es_ES.html
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