Sales or Value-Added Tax:

Spain has a standard Value Added Tax rate of 21%. However, lower VAT rates apply to many goods and services, including medical costs, bus and train fares, and the like.

Income tax:

Spain has a two-tier tax system for individual income taxes. Earned income is taxed at progressive rates from 20% to 47% for 2015, and from 19% to 45% for 2016. Investment and capital gains are taxed at lower rates.

Foreigners resident in Spain for 183 days or more out of the year are considered tax residents of Spain and are liable for taxes on their global income. Spain has tax treaties with most major nations, including the U.S. and Canada, to prevent double-taxation of income.

Capital gains and investment income:

Capital gains and investment income have progressive tax rates of 20%, 22%, and 24% for 2015, dropping to 19%, 21%, and 23% for 2016. Capital gains on a primary residence in Spain are tax-exempt under certain conditions.

 

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