When does the Spanish tax year start and finish?

This is one of the most important things to consider when managing your taxes. The tax year in Spain is from the 1st of January until the 31st of December, unlike the UK (6th April until 5th April).

Do I have to report my assets to the Spanish authorities if they are in a foreign entity?

As of March 2013, you are required by Spanish law to declare any assets of more than €50,000 which are owned outside of Spain (until the 31st December of the previous year) to the Spanish government by the 31st of March each year (decided from 2014 onwards).

Failing to declare correctly any assets you may have in offshore assets can result in massive penalties and can even lead to prosecution (if the tax avoidance exceeds €120,000).

The reason for this law is to try and decrease the amount of people avoiding tax, while at the same time maximising Spanish tax revenue, mainly from expats living in Spain.

Do I count as a tax resident in Spain?

Normally you would be considered a tax resident in Spain if one or more of these points apply to you:

  • You have been living in Spain for a period of 183 days or more in a single calendar year, even if you have not been formally registered.
  • If you are employed or self employed in Spain – your professional activities are carried out in Spain.
    • Your main interests are living in Spain (eg your spouse, your children or people who depend on you). Please note, these points have been cut down for the purpose of the article, so if you should need more information you should seek professional advice from a lawyer or tax specialist in Spain.

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