Renta 2013 income tax declaration, Spanish Residents living in Spain for more than 183 days in one year basis during 2013 are subject to declare their Income Tax (Tax Returns) between May and June 2014 in Spain.
The Tax period in Spain starts on 1st of January and finishes on 31st of December. The calculation of the Income Tax, named “RENTA” or “IRPF” is made the year after, considering all the residents world wide income.
The Tax rate is progressive and it is based in the level of income. It can vary from 24,75 % up to 52%.
Income from savings (on savings accounts world wide) has a different rate: starting from 21% up to 6.000 € interest, 25% between 6.000 and 24.000 € and 27% when it is more than 24.000 €.
It is necessary to check the personal allowances of each tax payer: level of income, family member dependents, rate of disability, etc. as this can change considerably the rate of the Tax Return.
When it is the first time you make the Spanish Tax Return, it is necessary to valuate double taxation treaties in order to avoid duplication in some tax payments for the same source of income in 2 countries.
It is important that you declare all income on pensions and bank-accounts worldwide, as in the first trimester of 2013 you will have declared your assets abroad in the model 720. The declared income has to match the accounts and pension declared earlier in the model 720. More about the Model 720.
The income tax 2013 has to be declared before the 26th of June 2014. Contact us for an appointment for your income taxes.