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Spain
Overview
Last reviewed - 30 June 2021Spain, located in Southwest Europe on the Iberian Peninsula, joined the European Union (EU) in 1986. It is divided into 17 comunidades autónomas (autonomous communities) and two autonomous cities, with Madrid as the capital. The official language of Spain is Spanish, together with the co-official languages of certain autonomous communities within their territories. The official currency is the euro (EUR).
Since the first quarter of 2014, the main growth on the Spanish economy continues to be national demand, which has registered positive contributions to the year-on-year advance of gross domestic product (GDP).
Spain's fiscal deficit in 2020 was 10.97%. Initial estimates place the deficit in 2021 at around 8.40% due to the COVID-19 crisis.
PwC Spain has more than 4,900 professional employees committed to delivering value to our clients by offering business solutions. With this strong commitment in mind, all our teams in the Assurance, Tax & Legal Services, and Advisory divisions work together to offer the specific solutions that can add the most value to our clients.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
25 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Within 25 calendar days following the six months subsequent to the end of the tax year. |
| CIT final payment due date |
Within 25 calendar days following the six months subsequent to the end of the tax year. |
| CIT estimated payment due dates |
Three advance payments of the annual tax payment must be made during the first 20 calendar days of April, October, and December. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
Residents: 47 (*); Non-residents: 24 (**) (*) This is the maximum progressive scale of withholdings rate (final taxation will vary depending on the autonomous region where the taxpayer is resident; in some of them, the headline PIT rate reaches 54%). (**) 19% for residents in other EU member states or EEA countries with which there is an effective exchange of tax information. |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
30 June |
| PIT final payment due date |
30 June |
| PIT estimated payment due dates |
With some exceptions, PIT payers who carry out a business activity are subject to four estimated payments. In particular, such estimated payments will be due by 20 April, 20 June, 20 October, and 30 January. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
21 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 19 / 19 / (19 or 24)*; Non-resident: 19 / 19 / (19 or 24)* *See Spain's corporate summary for more information. |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
Residents: 26; Non-residents: Capital gains generated as a result of a transfer of assets are taxed at 19%. |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
3.5% according to the state tax scale, which is applicable if the autonomous community has not approved its own tax scale. |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
34% according to the state tax scale, which is applicable if the autonomous community has not approved its own tax scale. |
| Headline gift tax rate (%) |
34% according to the state tax scale, which is applicable if the autonomous community has not approved its own tax scale. |
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