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Hi Everyone,

Just trying to get a sense on what one might expect to pay for income tax as a resident in Spain on pensions, annuities, and the like from outside Spain.
I read about the new tax rules in Spain though am confused as to what that means to expats tax wise.
I have read about numbers like a minimum of 24% and higher might be what one would have to pay monthly or annually as income tax on the above type of income.
Could anyone comment?
Thank you so much.
 

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Registered
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Hi Everyone,

Just trying to get a sense on what one might expect to pay for income tax as a resident in Spain on pensions, annuities, and the like from outside Spain.
I read about the new tax rules in Spain though am confused as to what that means to expats tax wise.
I have read about numbers like a minimum of 24% and higher might be what one would have to pay monthly or annually as income tax on the above type of income.
Could anyone comment?
Thank you so much.
Take a look here Spanish tax rates and allowances for 2015..

This site covers everything about tax including rates, personal allowances etc. etc.
 

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This is the position as it is at the moment, for income received during the Spanish tax year 1 January - 31 December 2014 (in Spain, you submit your annual tax return in May/June in relation to the previous tax year9:-

Spanish income tax rates 2012 to 2014

Next year, the rates and tax bands will be different because of a reform of the Spanish taxation system which was agreed last year. The starting rate of income tax will be lowered to 20% from 24.75%, and it will go down again the following year, to 19%.

See the tables in this article for a comparison of the existing and new tax rates and income bands:-


REFORMA FISCAL: 9.000 millones menos en el IRPF y en el impuesto de sociedades | Economía | EL PA�S

All your worldwide income must be declared and is subject to taxation in Spain, and in addition, if you have assets held outside Spain worth €50,000 or more in any one asset class (cash in bank accounts, shares, property, etc) you must submit an annual declaration of overseas assets called a Modelo 720.
 
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