Income Tax

Old Aug 1st 2020, 11:14 am
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Default 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

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Old Aug 1st 2020, 11:38 am
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Default 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.
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Old Aug 1st 2020, 11:44 am
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Default Re: Income Tax

Thanks Fred. How much do you reckon is small?
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Old Aug 1st 2020, 11:47 am
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Default Re: Income Tax

21% (in Catalunya) of 85 euros then I guess. Is that correct?




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Old Aug 1st 2020, 12:11 pm
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Default Re: Income Tax

Almost. It's 21.5%
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Old Aug 1st 2020, 12:38 pm
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Default Re: Income Tax

Damn....Scandalous
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