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About us2.

4

5

6

Applying for An niE numbEr in spAin

7

3.

8

spAnish incomE tAx 4.

9

OThER allOwanCEs anD DEDUCTiOns

Other allowances include relocation costs due to change in employment, working employees over 65 years of age, etc.

Employee Social Insurance contributions are also tax deductible.

11

spAnish cApitAl gAins tAx And sAvings tAx5.

13

1994 & earlier years 1.3167

1995 (& 31/12/1994) 1.3911

1996 1.3435

1997 1.3167

1998 1.2912

1999 1.2680

2000 1.2436

2001 1.2192

2002 1.1952

2003 1.1719

2004 1.1489

2005 1.1263

2006 1.1042

2007 1.0826

2008 1.0614

2009 1.0406

2010 1.0303

2011 1.0201

2012 1.0100

2013 1.0000

spAnish wEAlth tAx (impuEsto sobrE El pAtrimonio)6.

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16

17

inhEritAncE tAx/ gifts tAx7.

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19

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SummAry OF InhErITAnCE TAx CAlCulATIOn

The below is a summary how an inheritance is calculated in Spain:

Value of inheritanceplus

Domestic furnishings(3% of value inherited)

minusBurial expenses

minusloans & mortgages

equalsnet total inheritance

minusallowances

(depending on kinship)equals

Taxable basemultiplied by

Tax rateequals

Base Tax duemultiplied by

Coefficient for pre-existing wealth(Depending on personal assets and kinship)

equalsTax payable

buying, owning And sElling A propErty in spAin9.

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24

25

26

spAnish wills10.

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Please note that this brochure has been written as a general guide only and is not a substitute for professional advice. You should always seek specific professional advice before you take any action. Neither Foresight Consultancy nor the author will be held responsible for any action or inaction based on this guide. The information contained in this booklet was prepared based on information available during April 2013.

Foresight Consultancywww.foresightconsultancy.com