If you have been a tax resident in Spain during 2024, we would like to remind you that the deadline to submit the Personal Income Tax (IRPF) return for the 2024 tax year ends on June 30, 2025. In this return, you must include all income obtained worldwide. In this post, we will analyze the most frequently asked questions residents in Spain usually have about this matter.
When are you required to file the Personal Income Tax return (IRPF)?
All individuals who are residents in Spain, as well as non-residents who obtain income from sources located in Spanish territory, are considered taxpayers.
In general terms, you must file the return if you meet any of the following conditions:
- In case of a single payer: if your employment income in 2024 exceeds 22,000 euros.
- In case of several payers: if your total income exceeds 15,876 euros per year, and the amount received from the second and subsequent payers exceeds 1,500 euros per year.
- In case of sale of movable or immovable assets: if the income exceeds 1,600 euros per year.
- In case of imputed income from real estate: if it exceeds 1,000 euros per year.
- If you carry out self-employed economic activities, the declaration is mandatory in any case.
How do I know if I have been a tax resident in Spain in 2024?
- If you have stayed in Spanish territory for more than 183 days during the calendar year.
- Even if the previous criterion is not met, if your center of economic interests is located in Spain (economic activity, employment, residence of dependent spouse and/or underage children).
When must I submit the Wealth Tax return?
You are required to declare in the following cases:
- If the total value of your assets in Spanish territory exceeds 700,000 euros (this limit may vary according to autonomous community legislation).
- Even if there is no requirement to pay, if the value of your total assets (anywhere in the world) exceeds 2,000,000 euros, you must file the return.
How much will I pay in taxes?
Both the IRPF and the Wealth Tax in Spain are progressive taxes, and their amount depends on the taxable base (worldwide income and value of assets).
- For IRPF: the rate ranges from 19% to 47%.
- For Wealth Tax: from 0.2% to 2.5%.
Personal and family circumstances are taken into account, as well as various national and autonomous community deductions. Taxes paid abroad are usually deducted from the total to pay.
Remember: filing your tax return is a legal obligation. Doing it correctly will allow you to comply with your tax duties and avoid future complications. If you need assistance or more information, you can contact the professionals at Supra Legit Lawyers by email at info@supralegit.com or WhatsApp +34 627 971 734
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