Tax law in Spain will be changed from the beginning of 2015. We show you a summary of all the changes.

1. CHANGES IN THE SPANISH
TAX LAW IN 2015
by Bressers Law

2. New Tax Law
• Since the very first day of 2015 the new tax law will be
applied in Spain.
• The last approved reform changes many aspects of the
law regarding:
• Personal income tax
• House renting or selling
• Indemnities for firing and patrimonial earnings
• Savings and pension plans
• Donations and sponsorship
• Corporate tax
• VAT
• Other

3. Personal Income Tax
• Minimum: 20% in 2015, 19% in 2016.
• Maximum: 47% in 2015, 45% in 2016.
• Tax exemption for incomes under 12.000€ per year.
• Freelancers retention will change from 21% to 19% in
2015 and 18% in 2016.
• Grants from financial institutions will not pay taxes.

4. House Renting or Selling
• Tenants will not have any tax reduction.
• Lessors will have a 60% tax reduction regardless of the age of
the tenant.
• Dation in payment will not generate taxes.
• Patrimonial earnings from properties bought before 1994 will
pay a tax of the 11,11% when they are less than 400.000€.
• When a person sells his first home in order to buy another one,
there is a tax exemption.

5. Indemnities for Firing and Patrimonial Earnings
• People over 65 will not pay taxes for their patrimonial
earnings under 240.000€ if they are reinvested in a life
annuity.
• Indemnities for firing are exempt from taxes up to
180.000€.
• Investors will pay taxes for all their earnings.

6. Savings and Pension Plans
• There is a tax reduction for savings:
• Up to 6.000€ - 20% in 2015, 19% in 2016
• From 6.001€ to 50.000€ - 22% in 2015, 21% in 2016
• From 50.001€ on - 27%
• Reductions for contributions to pension plans are lower
and they will only be applied to 8.000€.
• It will be mandatory to maintain for 5 years an individual
saving plan, instead of 10 years.

7. Donations and Sponsorships
• The tax reduction for donations grows up to 30%, if it is
done during 3 years or more the reduction will be of 35%.
• When donations are less than 150€, the redution is 75%.
• Donations to companies of social utility will have a tax
reduction of 10%.

8. Corporate Tax
• Nominal interest rate will go down from 30% to 28% in
2015 and to 25% in 2016.
• New reductions for:
• I+D investment
• Companies which updated their balance in 2012
• Performing acts and musical companies
• 15% deduction for foreign shootings
• Reductions which desappear:
• Reinvested extraordinary earnings
• Accounting damage

9. VAT
• VAT will not be changed in general, but some sectors will
suffer some modifications.
• Flowers and plants: 10% instead of 21%.
• VAT exention:
• School meals
• Radios and Televisions of the autonomous communities.

10. Other
• Inheritance and patrimony taxes are equal for residents
and no residents.
• Those companys that need a continuous use of electricity
have a 85% reduction in the electricity tax.

11. More information
• This is only a summary of the changes that the tax law will
suffer in Spain next year.
• For specific situations and deeper information, you can
trust in the knowledge of Bressers Law.