TAXES IN SPAIN

NON-RESIDENT TAXES (FORM 210)

When you are a non-resident in Spain, tax issues are often a big headache.

TAXES IN SPAIN

NON-RESIDENTS TAX (FORM 210)

When you are a non-resident in Spain, tax issues are often a big headache. Therefore, in order to avoid unforeseen events, it is advisable to consult a legal advisor who will accompany us at every step.

As a specialist in taxes in Spain for non-residents, taking into account the 210 model, in the tax advice sessions, my main objective is that non-residents in Spanish territory can comply with each of their tax obligations.

  • You live less than 183 days in Spain
  • You do not have tax residence in Spain.

  • Remain more than 183 days, during the calendar year, in Spanish territory.
  • It has its principal place of business or the basis of its direct or indirect economic activities or interests in Spain.
  • Spain is the habitual residence of his or her spouse who is not legally separated and the minor children who depend on this individual.

TAXES IN SPAIN

IMPUTED RENT OF URBAN REAL ESTATE FOR OWN USE AND GOVERNMENT TAX FOR NON RESIDENT

In Spain, nonresident taxpayers who own an urban property for their own use are subject to nonresident income tax on imputed income. are liable to non-resident income tax on the imputed income corresponding to such real estate. corresponding to such real estate.

In other words, they are obliged to pay property taxes to the tax authorities (Ministry of Finance). authorities (Ministry of Finance).

In case the property is for own use, such as a second home or for vacation use, the Spanish Tax Authorities stipulate that you must declare by imputation of income. the Spanish Tax Authorities stipulate that it must be declared by imputation of income, since it is a property that, although it could be rented, is not. property that, although it could be rented, is not.

In addition, in order to make the declaration correctly, it should be borne in mind that there are differences depending on the country of origin. depending on the country to which you belong.

The tax rate is the general rate in force:

  • EU residents, Iceland, Norway and, from 11-07-2021, Liechtenstein: 19%.

  • Other taxpayers: 24%.

Faced with such a paradigm, the best option is to count on a team specialized in advising about that will allow a worry-free enjoyment of the property.

If you would like more information, please do not hesitate to contact us.

TAXES IN SPAIN – HOLIDAY RENTAL TAX FOR NON RESIDENT

RESIDENTS WITH ASSETS ABROAD (FORM 720)

Form 720 is an informative declaration on the assets and rights that a resident owns in foreign territory with the aim of fighting against tax fraud. The 720 model takes into account.

  • Report accounts in foreign financial entities.

  • Report real estate assets and rights abroad.

  • Report on securities, rights, insurance and income deposited, managed or obtained abroad.

  • Company shares
  • Bank accounts in entities outside Spanish territory.
  • Real estate such as a home abroad.
  • Life insurance contracted abroad.

If the non-resident decides to lease the property, the 210 tax form must be filed every quarter. every quarter, paying the corresponding tax in the months of April, July, October and January, October and January.

In order to deduct expenses, as in the case of urban real estate for own use, the following is taken into account the country of ownership.

Non resident tax – Personalized advice

If you would like more information about Holiday rental tax property, please do not hesitate to contact us.