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Specific issues relating to taxation of other income, no agreement

Taxation of income other than income generated by real estate

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Investment income

In general, when no agreement is in place, non-residents who obtain interest or dividends in Spanish territory must pay tax at the rate in force in the year in which the income has accrued (see chart).

In general, the gross tax base is the whole amount received.

However, in the case of taxpayers resident in another Member State of the European Union, in relation to income obtained since January 1, 2010, or in the European Economic Area with effective exchange of tax information (with effect from July 11, 2021, regulatory references to effective exchange of tax information must be understood as being made to the existence of regulations on mutual assistance in matters of the exchange of tax information), in relation to income obtained since January 1, 2015, to determine the tax base they may deduct the expenses provided for in the Personal Income Tax Law , if they are natural persons, or in the IS Law if they are entities, provided that it is proven that they are directly related to the income).

Year of return2010-20112012-201420152016 and ff
Tax rate 19% 21% Until 11-07-2015:
20%		 From 12-07-2015:
19.50%		 19%

However, there are quite a few exemptions in this area, including, among others, the following:

  • Public Debt Interest .

  • Interest received by residents in other States of the European Union or, since January 1, 2021, of the European Economic Area (EEA) with effective exchange of tax information (with effect from July 11, 2021, regulatory references to effective exchange of tax information are understood to be made to the existence of regulations on mutual assistance in matters of exchange of tax information).

  • Interest of non-residents' accounts.