Tax thresholds in Spain
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At the moment I am living in Cyprus, but considering moving to Spain (Mar Menor area). Can anyone tell me the tax thresholds in Spain please - here in Cyprus the personal allowance is €19500 - anything below this - no tax . I am wondering if I would have to pay tax in Spain when registered there.
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http://www.spainaccountants.com/rates.html
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The basic personal allowance for 2011 is €5,151 per person. For joint returns the allowance given to the first spouse is €5,151 plus €3,400 for the second spouse. A single parent gets €5,661. The basic allowance is increased by €918 for someone aged 65 or more (so €6,069 in total) and by a further €1,122 for someone aged 75 or more (€6,273 in total). The personal allowance (including additions for age, dependants and incapacity) is not deducted from taxable income but is given as a tax credit against the total tax payable.
This message was last edited by bobaol on 10/05/2011.
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Thanks for that! Hmm, looks like 24% tax . . . . . . . I may have to reconsider my plans!
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