Tax Returns & Fiscal Services updates in Spain

Tax Form 720 Spain: Avoiding Penalties

Those who are tax resident in Spain (both local Spanish residents and expats resident in Spain) are legally obliged to provide information to the Spanish tax authorities regarding any offshore accounts, offshore investments, and real estate located abroad. It should be noted that tax form 720 does not imply additional taxation... Read More

Tourist Rental Licences in Spain

Legislation In February 2016  legislation was approved by the Andalucian Government making mandatory the issuing of tourist rental licenses in this part of Spain. The objective was supposedly to regulate the letting by owners of property in Andalucía to tourists for short-stay holidays i.e. tourist rentals. The legislation... Read More

Imputed Income Tax & Capital Gains Tax in Spain

Imputed Rental Income from Residential Property All non-resident residential property owners in Spain as of December 31st 2014 will need to make a tax return during 2015 in respect of their Spanish property. The tax rate is 24% and is applied to 1,1% of the ‘catastral’ value of the property. The ‘catastral’ value of th... Read More

The Return of Wealth Tax in Spain

Over the period of 1995 to 2007, the average price of property in Spain increased a massive 155%, falling only 22% since then. While this has meant either a windfall profit or an ever decreasing possibility of ever getting on the property ladder – depending on your perspective – the increase in wealth has not affected the av... Read More