Tax thresholds in Spain

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10 May 2011 00:00 by lancylass Star rating. 4 posts Send private message

 At the moment I am living in Cyprus, but considering moving to Spain (Mar Menor area). Can anyone tell me the tax thresholds in Spain please - here in Cyprus the personal allowance is €19500 - anything below this - no tax .  I am wondering if I would have to pay tax in Spain when registered there. 





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10 May 2011 12:05 by bobaol Star rating. 1947 posts Send private message

bobaol´s avatar

 http://www.spainaccountants.com/rates.html

 Plus

The basic personal allowance for 2011 is €5,151 per person. For joint returns the allowance given to the first spouse is €5,151 plus €3,400 for the second spouse. A single parent gets €5,661. The basic allowance is increased by €918 for someone aged 65 or more (so €6,069 in total) and by a further €1,122 for someone aged 75 or more (€6,273 in total). The personal allowance (including additions for age, dependants and incapacity) is not deducted from taxable income but is given as a tax credit against the total tax payable.

 



This message was last edited by bobaol on 10/05/2011.



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10 May 2011 12:07 by lancylass Star rating. 4 posts Send private message

 Thanks for that!  Hmm, looks like 24% tax . . . . . . . I may have to reconsider my plans!





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