Requirements exist to file return by Resident and non Residents individuals and corporations:
Individuals:
a. Taxes on Resident individuals : Tax Returns
i. Income Tax –and Gains tax – annually
ii. Wealth Tax – annually
ii. Assets owned outside Spain– annually
iv. Inheritance Tax – within 6 months of death
b. Non Resident individuals and companies
i. Deemed Income – and (benefit in-kind) annually
ii. Rental Income – Quarterly
iii. Wealth tax – annually
iv. Inheritance Tax – within 6 months of death
v. Special Corporation Tax – (Resident in Tax Havens) annually
c. Companies
i. Corporation Tax – annually
ii. Accounts – to be filed at Companies Registry – Accounts must be audited if any two out of following apply
1. Assets (ignoring liabilities) exceed EUR 2’850’000
2. Sales exceed EUR 5’700’000
3. Employees exceed 50
d. Businesses – Individuals and Companies
i. VAT – quarterly
ii. Employees (PAYE) – quarterly and
iii. Retentions withheld + deducted by 3rd parties – quarterly
Please note: The information contained in these pages is given without charge and without responsibility. It is not a substitute for proper professional advice which we shall be happy to give if so instructed.
