Now that you know which is your exact status in regards to the Spanish tax law, let’s move to see a complete list with all the taxes you will need to pay as a foreigner living in Spain:
1. Income tax. Provided that you are a resident in the country, you will pay income tax for all the incomes you obtain worldwide. Those incomes are taxes at a progressive tax rate that ranges from 19 to 45% in the highest bracket.
2. Non-resident tax. In case that you are a non-resident, you also need to pay taxes on the incomes generated, but just for those in Spain. And this time trough the non-resident tax. We are talking about a flat rate of 24% that is usually applied to the gains you obtain when renting out a property or from the yields that any other asset you have in Spain offer.
3. Capital gains tax. This tax, which goes from 19 to 23%, is applied to the specific gain you get from selling an asset you previously bought at a lower price. So, for example, if you bought a property or a set of company shares at time X and you are selling them at time Y at a higher price, capital gains will be applied to you on that difference.
4. Wealth tax. A 0,2 to 2,5% tax rate that is applied to all those assets you have in Spain which value is above 700.000€. The wealth tax would just be applied to value that exceeds that amount.
5. Inheritance tax. In some Spanish regions, once you accept any asset (for example, through an inheritance), you need to pay a small percentage that varies according to your specific region.
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