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Declaración de la Renta – The Spanish Tax return ​

The Spanish Tax Return, the declaration La Renta, is due to be submitted to the AEAT (the Hacienda) by 20th June 2017. It covers the period 1st January 2016 to 31st December 2016. Payment of the tax is due on 30th June 2016. However, did you know that you can request your tax be split between two payments, one on the 30th June and the other on 30th November?

The return must be completed by the following gro​​ups of people

  • Spanish Residents

  • Non Spanish Residents who have Spanish Assets.  Note that this includes property EVEN if the property is not let.  The tax on unlet property is based upon the valor catastral.

Click here for a definition of Spanish Residency. Please note it is not always as simple as being in ​Spain for 183 days a year​.

The La Renta declaration does not have to be completed if you earn less than 23,000€ as an employee and you have income from only ONE source.  However, if you think you are due a tax refund, you will have to a tax return as the Hacienda ​​does not issue a refund without a form.

Income Tax is known as IRPF and is deducted automatically for employees​

Tax is due worldwide on​​

  • Income from employment

  • Income from Self Employment (Automono)

  • Income from assets such as bank accounts, shares, etc​

  • Income from property

This year, the top tip for the Renta is to remember to include all the items on your Declaración de la Renta that you included on your Forrm 720, the declaration of overseas assets.

There are many allowances and not all income is taxed at the same rate.  For example, certain life assurance policies are not taxed until money is withdrawn.  When a withdrawal is made there is a specific method of calculating the tax which is advantageous when compared with the normal rates of income tax.

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