Taxes - Accounting

Spain

Nature of the tax: Impuesto sobre el Valor Anadido (IVA).
Tax rate: 18%
Reduced tax rate: 8% for food and non-alcoholic beverages, veterinary drugs, health equipment and products, accommodations, some passenger transport systems, average and low end hotels and restaurants, etc.
4% for essential foodstuff, medicines, cultural goods, cars for physically handicapped, etc.
Other consumption taxes: There are special taxes:
- IIEE: special production tax (alcoholic drinks, hydrocarbons, tobacco, electricity) ;
- IEDMT : special tax on certain means of transport ;
- Special tax on carbon ;
- IVMDH: tax on retail sales of some hydrocarbons.

Taxes on companies (basic)	30%
Special Tax rate for the SMEs for which the annual turnover is less than 8 million EUR.	25% of 0 to 120,202 Euros of their profits, for the remaining: 30%.
Companies specializing in exploration, search and exploitation of hydrocarbons	35%
Mutual benefit insurance companies, mutual guarantee firms, credit cooperatives and rural savings banks, professional orders, sectorial associations, official chambers of commerce, workers' union, non-profit organizations, cooperative unions, employment promotion funds, State ports and autonomous ports.	25%
Fiscally protected cooperatives	20%
Investment companies & portfolio investment funds	1%

Tax rate for foreign companies: The companies set up in Spain are taxed on their worldwide revenues and profits, while the foreign (non-resident) companies are taxed only on their revenues made in the country.
Capital gains taxation: Capital gains are taxed as ordinary income. The rate is 30%.
Main allowable deductions and tax credit: Relief for Ceuta and Melilla territories, export business, local public service, deductions for R&D activities, technological innovation, TIC development, protection and distribution of historical assets, investment in movie and audiovisual productions, publishing books, investment in environment protection or in geographic positioning systems via satellite or mobility of persons with handicaps, childcare, professional training, job creation for handicapped people, reinvestment of excess profits, employer contribution to special worker protection systems.
Tax rebate exists but is not used much. Compensation for losses can benefit from a tax rebate over 15 years.
Other corporate taxes: 1% capital duty is levied on the contribution of capital and upon liquidation. Nonresidents pay a special 3% tax (except if there is a tax treaty with Spain in force). Stamp duty of 0.5% levied on notarised document.

Income Tax (IRPF)	Progressive Tax Rate from 24% to 45%.
From EUR 0 to 17,707	24.75%
From EUR 17,707 to 33,007	28%
From EUR 33,007 to 53,407	37%
From EUR 53,407 to 120,000	43%
From EUR 120,000 to 175,000	44%
More than EUR 175,000	52%
Savings tax	A 21% tax is levied on savings income up to EUR 6,000 and a 27% tax on income over EUR 6,000.

Allowable deductions and tax credit: Some expenses are deductible from each type of income. A deduction for social security contribution is permitted.
Special expatriate tax regime: The tax regime of the expatriation country is applied in the majority of cases. Else, the Spanish tax department deducts 24%.

Countries with whom a double taxation treaty have been signed: See the list of non-double taxation agreements signed by Spain
Withholding taxes: Dividends: 19%, Interest: 19%, Royalties: 24%.
Bilateral agreement: Spain and Tunisia are bound by a double taxation treaty: yes

Signed	Ratified	Enforced
12/07/1982	Law 86-39 of 23/03/86	14/02/1987

Pour aller plus loin dans vos recherches nous vous proposons de connaître les taxes locales connaître les taxes locales qui s'appliquent à votre produit.

Tax year: From January 1 to December 31 of the same year.
Accounting standards: Accounting in Spain is based on the General Accounting Plan.
Accounting regulation bodies: ICAC
Accounting reports: The annual accounts consist of the balance sheet, income statement, (cuenta de perdidas y ganancias), net assets modification statement, cash flow statement and the schedule (memoria). Summary annual accounts can be used under certain conditions of amount and staff for the SME and micro-enterprises.
Publication requirements: The publication of accounts to regulatory authorities is annual and compulsory.
Professional accountancy bodies: ICCAC
ICJCE
AECE
Spanish Association of Tax Consultants
AECA
Certification and auditing: Companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organization. You can consult the Association of public auditors of Spain .
Accounting news: EIN Website on Spain