SPANISH TAXES for EXPATS | What you MUST KNOW living in SPAIN

Thinking of moving to Spain and want to know how much tax you would have to pay as a Spanish tax resident? In this video we cover what you need to know about Spanish taxes for expats living in Spain. From personal income tax to wealth tax and inheritance tax, Spain taxes are complicated and ever changing. Plus, once you have lived in Spain more than 183 days in a year, you are a tax resident for that entire year. It’s critical to understand the rules and time your move so as not to pay thousands in taxes that you don’t have to.

Tax talk can be dry and confusing but we’ve done our best to keep it simple and easy to understand. Let us know what you think, if you’re planning on making a move to Spain and if there is anything else we should know.

📑CHAPTER LIST:
00:00 Intro
01:39 Types of Spanish Residency Visas
02:38 Spanish Tax Resident
04:12 Double Taxation Treaties
04:52 Types of Taxes in Spain
05:08 Personal Income Taxes in Spain
05:44 2024 General Taxable Income Rates in Spain
07:52 2024 Savings Taxable Income Rates in Spain
08:21 What Tax Allowances are there in Spain?
09:19 Capital Gains Tax in Spain
11:13 Wealth Tax and National Solidarity Tax in Spain
13:00 Inheritance Tax: Spanish Succession Tax
14:49 Modelo 720 Form - Declaration of Foreign Assets
15:14 Beckham Law Tax Regime
15:48 Final Thoughts
16:40 Outro

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Tax Benefits for Expats in Spain

DISCLOSURE:
*This video is NOT sponsored. Some product links are affiliate links which means if you buy something we’ll receive a small commission. Thank you for the support! 🤗
*Also, sometimes we discuss financial topics. We are not financial professionals, please consult a licensed advisor for financial advice.

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[jackserrano]

Hi guys really the best and clear tax presentation I have found in youtube, Congrats and keep the good work, found some details that have not found in other presentations, thanks for the excellent work

[chaptertravels]

Thank you for another helpful video. This stuff is always difficult to find reliable information on and you guys do a great job of making it accessible. (If only Shakira knew about your channel, she could have saved herself a lot of aggravation.)

[glauciod]

Super fun and informative - thanks for putting this together! Two common questions that were not covered (unless I missed it) are how Roth IRA withdraws are treated for personal income taxes and if 401k and IRA balances are considered for the wealth tax.

[antoniolopezlopez]

Many foreigners have this thinking:
I want to go to spain, settle there, get benefits from the public services, health, roads, green spaces, security and transport... but i DONT want to pay taxes.
At the end, spaniards will maintain these services, while the foreigners just take vantage from them. That´s completely unfair.
In Spain we don´t have the same problems they have for example in USA, because we make efforth and pay more taxes to maintain the things as they are.
In America many roads are just broken and public transport is a mess, even in places with high taxes like Nyc.

[DCRefugee]

This is an excellent overview with enough detail that makes it clear how important it is to get professional advice well in advance of making any moves.

[edwardsharpe]

Thank you. I have been viewing other similar videos to get a grasp on the tax situation in Spain before considering moving there. Your video was very informational and I learned a few things that I was not aware of previously.

[mylittleocchio]

I love these nitty gritty topics and REALLY appreciate your FIRE part 1 and 2 videos. Thanks for doing this. I will always watch and like.

[lwuajiro]

Very useful information. Finally, someone got down to the meat and potatoes. First time I've heard that Fire, Police, Civil Servants and Military pensions are exempt from taxation in Spain. That will make a big difference. Thank you!

[jotownzer]

@cecilbatts8835, the average SS check equates to $22, 344 annual income. Deducting the individual allowance for those under 65 leaves $16, 794. Tax burden would be $3408, which is only 15.25%, not 30%. There is alot more to consider when it comes to cost of living than taxes anyway.

[DaveIngelson]

Good video. Worth mentioning that the current (2024) limit for the Wealth Tax in Catalunya and Valencia is only 500k€ after which you pay.

[drewdrew]

Very useful and very informative. Thanks for putting that all together so nicely !!

[dorinaruiz]

Hi Dianne and Guillermo, how are you doing? Did you move to Spain? We got a small place in Santiago de Ribera in Murcia Province. Love it !

[carlosdasilva]

Amazing, a well prepared and researched video. As a U.S. Military member potentially retiring in Spain or Portugal it is nice to hear that my pension is exempt from Spanish tax.

[sparkesman]

Taxes are insane in Spain which is why as a Brit my partner and i decided against living there full time. Not only are the taxes higher than the UK, the Spanish would also be entitled to tax me annually on any interest earned on my UK Cash ISA which i feel is totally wrong. We now just visit Spain for 3 months over winter and it works out much better both financially and time wise, because to be honest, we always look forward to going back to the uk after 12 weeks.

[ENVELOPEYOURDESIRE]

Thank you for this information, it was very simple to understand and allows me to do some research and look at my options for moving to Spain.

[SavedMiamiBlue]

Thank you for this informative video. My head id still spinning. I will have to revisit it a few times before it sticks 🙂

[basementstudio]

Thanks for the info. Great stuff. Just want to clarify one thing. Spanish taxes on pensions, social security and 403b withdrawals. Did you say Spain doesn't tax pensions for government workers? What about social security and 403b withdrawals? My wife and I are both government workers and each of us has a pension, social security and 403b. I'm federal and my wife is state. Thanks again for the video. (BTW a 403b is what a 401k is called for government workers)

[SomePotato]

Gonna move to Spain soon. I hope they keep the inheritance and wealth tax.

[sociologica]

I am spanish and taxes here are hell.... lived in the US and wow, Spain is really high, but for me worth it like you guys said. So glad the golden visa is out though!! we like tourist but not gentrification for we can't rent or buy houses in our own country

[maverick]

Outstanding information. This is the best video I have watched on taxation in Spain. 👍👍👍
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