TAX

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This topic contains 1 reply, has 2 voices, and was last updated by  Mark Stücklin 4 years, 2 months ago.

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  • #182971

    Martin Meijer
    Participant

    Hello,

    I am considering moving to Spain. I have money in a bank. When I become resident in Spain and live off the capital, do I have to pay income tax? Or would I only have to pay tax on the interest earned? Thank you

  • #183013

    Mark Stücklin
    Keymaster

    Hello Martin,

    You would need to consult a fiscal expert to be sure, but I think you’ll find that you pay income tax on your world-wide (declared) income if you are tax resident in Spain. That means tax on the interest income, not the capital, though there is also a wealth-tax (patrimonio) to pay on your net wealth above €700,000.

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