Calculator of Capital Gains Tax in Spain
Even if the data you enter is 100% correct, the tax to be paid may not display the exact real amount. This is because there are many individual factors and changes in current regulations that can influence the final result.
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What are capital gains?
In case you still don’t know exactly what they are, here we explain them to you!
The first thing you should know is that capital gains are those benefits you get from the sale of an asset that you have held for a certain time.
These assets can be real estate, stocks, cryptocurrencies or other goods.
For example, if you bought a house for €100,000 and sell it for €150,000, the difference of €50,000 would be considered a capital gain.
And how are the taxes you must pay on these gains calculated?
Well, it will depend on the amount you have earned and how long you have held the asset.
Things to take into account:
In Spain, capital gains are included in the income tax return and are taxed by the Agencia Tributaria (Tax Agency) at a rate ranging from 19% to 26%.
However, there is an exception for capital gains generated by the sale of a main residence.
In these cases, if you have reinvested the money in the purchase of another main residence within two years, you would be exempt from paying taxes.
Another factor is the time you have held the asset:
- If you have had it for less than one year, it is considered a short-term capital gain and will be taxed at the tax rate that corresponds to your personal income tax bracket (IRPF).
- If you have held it for more than one year, it is considered a long-term capital gain and you will be entitled to a tax reduction of between 40% and 60%.
Personal Income Tax (IRPF) brackets for the calculation of taxes:
These IRPF (Personal Income Tax) brackets are important when calculating the tax rate to be applied on short-term capital gains:
- Up to €6,000: 19%
- From 6.001€ to 50.000€: 21%.
- From 50.001€ to 200.000€: 23%.
- From 200.001€: 26%.
Am I entitled to deductions?
Yes!
There are certain deductions and expenses that you can include in your income tax return that can reduce the amount of tax you have to pay on your capital gains.
For example, if you have invested in the improvement of your main residence, you can include the expenses in your tax return and reduce the amount to be paid.
In summary, calculating capital gains tax in Spain may seem complicated, but if you take into account the amount obtained, the time you have held the asset and the possible deductions and expenses that apply to you, you will be able to do it in a simple way.
File your capital gains tax in Spain easily.
With Entre Trámites you will be able to save on your taxes, avoid unnecessary fines and file your Income Tax Return without any problems.
You can leave everything in the hands of an accounting and tax specialist!