Asesoría de empresas | Barranco Asesores.

As the deadline for the filing of non resident tax approaches ( December 31 st ), we would like to remind you that, if you are non resident in Spain – you live in Spain less than 183 days a year and do not have the center of your economic or vital interest in Spain- and own a property in Spain, you are liable to Spanish Non-Resident Income Tax arising as a result of your ownership of the property, as follows:

All those tax residents in Spain, should be aware that as a result of legislation passed on 29th October 2012 for the prevention and control fraud, all natural or legal persons resident in Spain who have any assets outside of Spain with a value of 50.000 Euros or more, are required to submit this declaration formto the Spanish Tax Authorities.

The main new features this year are:

The income tax scale has completely changed the tax rate.

The minimum earnings to be exempt from having to make the income declaration when the earnings come from more than one payer have risen from 11.200 Euros to 12.000 Euros and also if more than 1.500 Euros have been earned from the second and following payers.

Gibraltar “cross border” workers pay tax on their salaries at source in Gibraltar under the PAYE (pay as you earn) system and later complete a Gibraltar tax return declaring this income, but their tax liability does not ends there. Individuals who live in Spain also need to complete a tax return in Spain.