Tax & Accounting
Combining experience and empathy with an excellent network of professional services, Kreston Iberaudit is your ultimate choice for your financial needs in Barcelona.
Kreston Iberaudit guarantees worldwide quality coverage, based on the convenient and local expertise of all members within their expansive network.
Kreston Iberaudit advises expats moving to Barcelona in:
- Accounting and auditing services
- Financial consulting
- Tax planning and cross-border taxation
Elena Ramírez Marín
Tax & Accounting for Expats in Barcelona
Barcelona is one of the most popular destinations for expats however understanding the tax system is a major challenge for expats. With often-changing rules and complex tax structure, staying abreast of your taxes in Barcelona may be a challenge if you don’t seek professional advice.
Key Tax & Accounting tips you should know as an expat in Barcelona
- The tax year runs from January 1 to December 31. The tax returns are due between April 6 and June 30.
- As a resident, you will pay your taxes in Barcelona on your worldwide income. The taxes apply on a progressive tax system.
- Non-residents pay a flat-rate tax on Spanish-sourced income and on the owned property.
- Spain has a wealth tax. The rates range from 0.2% to 2.5%. The tax will be based on the value of all assets you have.
- Spain has a double taxation agreement with many countries. It’s best to get professional advice from an experienced tax specialist concerning your specific circumstances and take advantage of all the tax benefits available.
Tax & Accounting for expats establishing a business in Barcelona
- The general corporate tax rate in Spain is 25%.
- As a newly formed company, you are eligible for a reduced 15% tax rate applied for the first two years of your business. A reduction of 10% tax may be granted to profits locked into a special reserve for five years.
- The tax returns must be filed within six months and 25 days after the end of the accounting period. You should pay by instalments in April, October and December, each instalment usually being 18% of the tax liability.
- As tax is a very complicated affair in Spain and there are potentially severe fines and penalties for not properly filing your taxes, it’s highly recommended to seek the services of a professional tax advisor to help you meet your financial needs, and make sure you take advantage of all deduction, exclusion and credits your business may be eligible for.
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