4 Jan 2018
A new year has already started and it is the time to take note of the declarations and self-assessment tax returns deadlines for 2018.
Leaving the business and corporate deadlines aside, we would like to point out the main upcoming tax due dates and declarations to be filed by individuals in Spain. We remind you that the annual fiscal year period in Spain coincides with the calendar year (January to December).
It should be noted that you will not receive pre-filled tax assessments neither from the Tax Authorities nor from any other Public Administration.
ETE / January 20th: Survey for the Central Bank of Spain. This form should be filed when the value of your foreign financial assets exceeded 1 million euro at the beginning or the end of year 2017, or you have made transactions to and from abroad of more than 1 million euros. This declaration should be filed electronically only, but you must use your own digital tax certificate unlike other declarations whereby our professional certificate is valid.
D-6 / January 30th: Declaration of ownership of foreign marketable securities for the Ministry of Economy, Industry and Competitiveness. The value of the securities at the end of the year should be declared and there is no minimum amount to be held for being obliged to declare. This declaration can be filed either electronically or in paper form.
Form 720 / March 30th: Informative tax return for the Tax Authorities on foreign assets. There are three blocks to report on accounts, securities and real estate, considering the value at the end of the year and the average balance of the last quarter. This should be reported if this is your first year as tax resident in Spain and the global value of any of the three blocks exceeds 50.000 euros, or the value has increased by more than 20.000 euros compared to your previous tax return or you are not owning any longer assets previously reported. This tax return can be filed electronically only.
Form 100 / June 30th: Personal Income Tax return. Any income, gain, dividend, and interest you may have earned in Spain or abroad should be reported. If you have paid taxes abroad (i.e., withholding tax on dividends) you can apply the double tax treaty to avoid double taxation. This tax return can be filed online or in paper form. This tax is payable to the State but the tax scale is shared with Regional Governments so the final tax rate will vary depending on the region.
Form 714 / June 30th: Wealth Tax. This should be submitted when the net value of your worldwide assets exceeds 700.000 euros. This tax takes into account the value of your assets at the end of the year, with the exception of bank accounts that also consider the average balance of the last quarter. There is a tax allowance of 300.000 euros for the main home. Each spouse is a separate taxpayer and the above threshold and allowance applies individually. This tax is shifted to Regional Governments that are empowered to regulate it so tax rates, allowances and threshold will vary depending on the region. This tax return can be filed electronically only.
NON-RESIDENTS IN SPAIN
Form 714 / June 30th: Wealth Tax. To be submitted when the net value of your Spanish assets at the end of the year 2017 exceeds 700.000 euros, or 1.400.000 euros in case of a couple as each spouse is a separate taxpayer. You are liable to the Regional Government where the asset of higher value is located. This tax varies depending on the region. This is an online tax return.
Form 210 / December 31st. The Government imputes owners with a benefit in kind for the use of the holiday home during year 2017 and a tax on said estimated income should be paid. This tax return can be filed both electronically or in paper form.
Form 210 / quarterly: In case that you rent your Property out, taxes should be paid on a quarterly basis. The deadlines are the 20th day of April, July, October and January respectively. As an example, if you rent the property in March 2018, the tax return should be filed and the tax should be paid before the 20th of April.