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2. Central government taxes

National taxes in Spain can be classified as follows:

  • Direct taxes:
    • On income:
      • Corporate Income Tax (CIT).
      • Personal Income Tax (PIT).
      • Nonresident Income Tax.
    • On assets (affecting only individuals):
      • Wealth tax.
      • Inheritance and gift tax (IGT).
  • Indirect taxes:
    • Value added tax (VAT).
    • Transfer tax and stamp tax.
    • Excise taxes.
    • Customs duties on imports.
    • Tax on insurance premiums.

Given its importance, we refer herein to the formal reporting obligation relating to assets and rights held abroad (introduced for the first time for year 2013 in relation to the assets and rights owned in 2012), the breach of which affects personal income tax and CIT.