Income Tax
Hi everyone...new member here...
Can anyone tell me how I work out how much Spanish Income Tax I need to pay each year.? I am getting conflicting information. My income is an Occupational Pension of around 13200 euros per annum. (I took this at age 55) I know that there is a Personal Allowance of 5550 euros...and somebody mentioned another General Allowance of 2000 euros. What is this for? I assumed I would therefore pay tax on the amount above 5550...or 7550 if the general allowance is included. But someone else told me that I would pay no tax because of a low income allowance ....whatever that is. Can anyone guide me on this? Many thanks |
Re: Income Tax
Correct, the basic allowances are 7550. The extra allowance is €5565 on incomes up to 13115. On income above 13115 the allowance is on a sliding scale up to 16825, where it goes to zero.
So, your tax is going to be very small. |
Re: Income Tax
Thanks Fred. How much do you reckon is small?
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Re: Income Tax
21% (in Catalunya) of 85 euros then I guess. Is that correct?
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Re: Income Tax
Almost. It's 21.5%
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Re: Income Tax
Damn....Scandalous
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