Cullera EU countries have signed fiscal agreements especially aimed at avoiding double taxation. These agreements enable the determination of a person’s residence for tax purposes when the legislation of the emigrant’s origin and destination country mean that the individual in question is considered as resident in both countries. As a “tax resident” in an EU country, a person’s entire income (universal income) must be taxed in that country, when the income can be considered as taxable in the other country as well. In the Spanish tax system, there are two main types of taxes: -Direct or personal taxes: levied on assets or income obtained. This category includes: Personal Income Tax, Company Tax, Gift Tax and Capital Levies. -Indirect or trade taxes: this covers all taxes levied on the circulation or transfer of wealth and the different modes of consumption or spent income. For example: VAT, Wealth Transfer Tax and Stamp Duty and special taxes. National, regional and local taxes: The State controls the management, payment, collection, inspection and revision of the following taxes: – Personal Income Tax: partially granted to Autonomous Regions; Company Tax; Value Added Tax (IVA); special taxes. The following taxes are controlled by the Autonomous....
The post Taxes in Spain appeared first on Gandia Lawyers - Carolina Just Miró.