Belastingtarieven / Tax rates / Steuersätze / Taux d’imposition / Impuestos

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The rates for 2021 are as follows:

Income tax

Regular income from employment and pension is taxed progressively according to the table below. Entrepreneurial income and income from real estate (including rent) also fall under the regular income.

Income in € 2020 rate class

nil – 12,450 0 + 19%

12,451 – 20,200 2,365.50 + 24%

20,201 – 35,200 4,225.50 + 30%

35,201 – 60,000 8,725.50 + 37%

60,001 – >>>> 17,901.50 + 45%

This rate is applied in Galicia and Castilla La Mancha

The other regions use different rates, namely:

Maximum rate Madrid 43.5%

Maximum rate Castilla y Leon 44.0%

Maximum rate Basque Country 46.5%

Maximum rate Andalucia and Canarias 46.8%

Maximum rate Aragon, Balearic Islands and Extremadura 47.5%

Maximum rate Asturias, Cantabria, Catalonia and Valencia 48.0%

Maximum rate La Rioja 49.5%

Maximum rate Navarre 52.0%

In some regions the top rates apply from € 60,000, such as Madrid, but in other regions only from € 120,000 (Andalucia, Catalonia and Valencia) the Balearic Islands have an even higher peak where the highest rate applies from € 175,000.

It can therefore be important from a tax point of view to determine where it is better to live, until politics adjusts these tables of course.

Income from assets

The capital gains tax (part of the income tax) levies tax on the “returns on investments”. These are, for example, dividends, interest on bank products and income from (life) insurance, but also profits on the sale of real estate (sometimes exempt).

Income in € 2020

Nil – 6,000 19%

6,000 – 50,000 21%

> 50,000 23%

EU not EU

Rate non-residents 19% (EU) or 24% (non EU)

Wealth tax

There is a general exemption of € 700,000 for residents and non-residents plus a further € 300,000 for residents with their own home. So the exemption for residents with their own home is € 1,000,000.

The general exemption differs per autonomous region.

For example, the general exemption in Catalonia is € 500,000 and the general exemption in the autonomous region of Valencia is € 600,000 (to be increased by € 300,000 for the owner-occupied home).

In order to determine the taxable income, you therefore take the assets minus the general exemption.

taxable amount tax starts with

0 – 167,129 0.20% 0

167,130 – 334,253 0.30% 334

334,254 – 668,500 0.50% 836

668,501 – 1,337,000 0.50% 2,507

1,337,001 – 2,674,000 1.30% 8,523

2,674,001 – 5,347,998 1.70% 25,904

5,347,999 – 10,695,996 2.10% 71,362

10,695,997- >>> 2.50% 183,670

Succession and donation

Inheritance and gift taxes vary considerably from region to region.

There are regions that have cut inheritance and gift rates close to “zero”, such as Valencia.

The regional rates apply only to residents.

The national rate always applies to non-residents.

This national rate starts at 7.65% and increases to 34%, depending on the amount of the estate / donation.

Depending on the family degree of the recipient of the wealth, a multiplication factor applies, which is partly determined by the amount of the wealth, so that the final tax to be paid can rise to 81.6%!

Have these types of taxes handled by experts.

Accountnet Accountants & Consultants
Avenida País Valencia 12 bajo
03570 Villajoyosa
Tel: (+34) 965887840
Email: info@accountnet.info
website: www.accountnet.info

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