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 TAX IN SPAIN. NON RESIDENT TAXES. INTRODUCTION
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Prevent unforseen tax mishaps before they occur |
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| Do you make these mistakes when paying your non resident taxes? |
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As this tax is called INCOME TAX, people think they are not liable and the truth is that this tax has to be paid by all people who are non-resident and own a home in Spain. It does (it is) not related to income generated in terms of for instance renting your property, but only to property ownership. |
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As a property is normally coowned by a couple, people think just one form has to be submitted and the truth is that each owner is regarded as an independent taxpayer; therefore they each file separate returns. |
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At Fuster & Associates we help you to understand the tax implications of your decisions before you take them, thus helping you to avoid any potential difficulties.
Most people think that the non-resident tax is not very complicated and that, regardless of who does the tax returns, they will have to pay the same amount of tax. However, this is not the case as, for example, the tax can be calculated using either the cadastral value or the purchase price and, depending on which option is chosen, there may be a significant difference in the final tax bill. For the sake of simplicity, many people use the sale price, and usually have to pay more tax.
Try our free, no-commitment service before paying your taxes, and we will optimise your tax affairs.
At Fuster & Associates we will provide you with the information and knowledge your need about the different possible options so that you can decide which is most beneficial to your interests. |
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| The problem of not paying your non resident taxes |
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The Spanish Government would charge the interest on the non paid taxes and the penalty, in addition. |
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When selling your property the Tax Authority would refuse any refund on taxes withheld by the purchasers when not presenting the mandatory annual tax returns. |
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Property and bank accounts can now be embargoed until back taxes and fines are settled in full. |
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| Why you should be paying your non resident taxes |
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The Spanish Government needs to collect in more income via taxes. |
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The Tax Authority has linked up with the Land Registry system and now knows who owns every property. |
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Electric companies are now obliged to supply data to help identify which homes are continuously occupied by residents or tenants. |
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| The solution |
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Taking confusion off your tax situation. Stress free professional advice about your personal tax situation. We provide you with 2 solutions: |
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| 1. Fuster & Associates Tax & Talk |
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Includes the Spanish property tax return for non-residents.
Free legal advice for one year on any legal issues you may have.
Inheritance tax planning & advice on how to dispose of your assets.
Live chat with your personal assistant.
Free calculators to do your own taxes: income, rental & inheritance.
Free annual newsletters with tax & legal updates.
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| 2. Fuster & Associates Free Tax & Talk Trial |
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Includes the Spanish property tax calculation for non-residents.
First free legal consultancy on any legal issues you may have.
Inheritance tax calculation and advice on how to do a Spanish Will.
Live chat trial with your personal assistant.
Free trial calculators to do your own taxes: income, rental & inheritance
Free annual newsletters with tax & legal updates
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| Contract for the rendering of professional services |
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| General Conditions |
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