EXPERT ADVICE – Jan/Feb Edition 2023



Taxes arising from the purchase of a property do not vary whether the ac quisition is by an individual or a company, resident or non-resident in Spain. Spanish non-resident income tax is a self-declaration tax that all non-fiscal residents who own a property in Spain should present to the Spanish inland revenue (Agencia Tributaria) on an annual basis. When the property is owned by a married couple, or by more than one per son, each person is an independent taxpayer and an individual tax form should be presented. Depending on the use of the property, income tax in Spain is calculated as follows: · Calculation of the income, considering the exclusive personal use of the owners. A determined rate is applied on the cadastral value of the property. · Calculation of the income in case the property is rented out: the rental price without the deduction of any costs is taken into account. In both cases, for European non-residents, the rate applied in 2022 was 24 per cent. A 100 per cent bonification was applied from 2022 for wealth tax in Spain. The general rate of company tax for an “SL” company in Spain is 25 per cent.

New companies created on or after 1 January 2015, and carrying out eco nomic activities, are taxed at 15 per cent for the first tax period in which the tax base is positive and also for the following tax period. Entities resident in a country or territory that has the status of a tax haven and that own real estate in Spain are subject to non-resident income tax through a special tax that accrues on 31 December each year and must be presented to the tax authorities the following January. The tax base is constituted by the cadastral value of the property and the tax rate is three per cent. When the cadastral value is not available, the tax is calculated based on the purchase price.

Welex Lawyers & Accountants C/ Ramón Gómez de la Serna 23, Local 7, Marbella Tel. (+34) 952 775 521

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