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Tag Archive for Taxes In Spain

Spain Tax System- Personal IncomeTaxes

THE SPANISH SYSTEM HAS TWO TYPES OF PERSONAL INCOME TAX:

-PIT for Spanish resident individuals and

-NRIT for individuals who are not resident in Spain

Spanish resident individuals are generally liable to PIT on their worldwide income wherever it arises. Non-resident individuals are chargeable to NRIT on their Spanish source income only.

RESIDENCE

An individual is liable to Spanish tax based on his or her residence. An individual is deemed to be Spanish resident if he or she spends more than 183 days in the tax year (i.e. the calendar year) in Spain or if the individual’s main centre of business or professional activities or economic interests is located in Spain.

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Want To Set Up A Company In Spain? Summary Of Taxes In Spain

There are a number of alternatives open to individuals wishing to invest in Spain.  These include setting up a limited company or forming a branch / permanent establishment.

Due to the number of foreign clients with trading companies in Spain, we have prepared a general summary of the taxes arising.

This is not a full and comprehensive guide to Spanish taxes and does not provide detail on the local operation of taxes.  As a result, we would always advise anyone with Spanish interests to seek the advice and expertise of a local tax professional.

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