Highlights of the General Canarian Budget 2019 – Effective 1st January 2019 1.       General IGIC has been lowered from 7% to 6,5% 2.       0,7% has been lowered to 0,65% for the importation of products subject to the general IGIC of 6,5% 3.       In 2018, the new regime REPEP began, which applied an exemption of IGIC […]

22 Oct 2018

Can I Deduct My Vehicle Expenses? If you want to claim for a vehicle through your business, then be aware that the Tax Authorities are very stringent when it comes to claiming the expenses (depreciation, repairs, fuel, insurance, parking etc.).  Exclusive use is compulsory with no allowance for personal use, which is very difficult to […]

24 Sep 2018

New Limits to Present Annual Income Tax Return in Spain.  Currently the tax legislation states that if your income does not exceed 22.000 euros then you do not have to present an annual income tax return, However, in the following cases the limit is less than 22.000 euros, for example, if: Working/pension income is received from […]

01 Jan 2017

If you are living and/or working in Spain, you will be liable to pay Spanish taxes on your worldwide income and assets and will need to file a Spanish tax return.
Spain is divided into 12 autonomous regions, and taxes are split between state and regional governments, with each autonomous region deciding on its own tax rates and liabilities. The tax year runs from 1 January to 31 December.