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| *The Commerce Journal>>>Spain Taxes |
What are the tax rates in Spain? |
Just wondering around what percentage is the income and other taxes in Spain. Personal Income Tax 25%; top rate of personal income tax 45%, and the standard rate of capital gains tax from 15% (for assets held for more than one year). Corporation tax is levied at a standard rate of 35%, and at 30% on the first 鈧?0,151 for companies with a turnover of less than 鈧?m. The standard rate of value-added tax is 16%. A tax reform package is to come into force in January 2007, including a cut in the top rate of income tax, to 43%, a progressive cut in corporation tax to 30% over a period of four years, and an increase in capital gains tax to 18%.Tax on Capital Gains on the Sale of Property in Spain treated as a long term capital gain can be taxed at a flat capital gains tax rate of 15%. New Properties purchase tax: buyers of brand new houses in Spain are liable to paying 7%. http://www.economist.com/countries/spain... |
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