TAX OBLIGATIONS FOR SPANISH RESIDENTS 🇪🇸💸 Spain's Tax Calendar Explained

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Tax obligations for Spanish residents during the calendar year (also the same as the tax year) can vary greatly from one person to another depending on a person's situation, whether they are an employee or self-employed, and depending on their net worth. In this video I explain the key tax forms and important dates for filing tax returns in Spain.
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Mentioned in this video:
🔹 Download Spanish Tax Calculator, Visa Guide and more: millennialswithmoney.com/store/
🔹 Bureaucracy.es - Get a special discount on legal support through your Spanish visa application: www.bureaucracy.es/millennial...
🔹 PRO Spain Consulting - Immigration, Legal and Tax experts: prospainconsulting.com/main?u...
🔹 Book a consultation with Marilo Pardo: www.fresh-legal.com/book_servi...
🔹 Agencia Tributaria Official 2024 Calendar: sede.agenciatributaria.gob.es...
🔹 Wealth Tax by Autonomous Community (in Spanish): www.bankinter.com/blog/finanz...
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Chapters:
0:00 - Intro
0:50 - Spanish tax year
1:30 - How often do I need to declare?
2:35 - Modelo 100: Annual Tax Declaration
4:25 - Modelo 714: Wealth Tax
5:27 - Modelo 720: Foreign Assets Declaration
7:23 - Modelo 130/131: Direct/Objective Tax evaluation (self-employed)
9:34 - Modelo 303: VAT declaration (self-employed)
10:27 - Modelo 349: Intra-Community (EU) VAT declaration (self-employed)
11:25 - Modelo 390: Annual VAT summary (self-employed)
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About me:
Welcome to Millennials With Money!
My name is Jonny, I'm a financial analyst from the UK, currently living and working in Spain.
I created this channel to help and inspire young people to improve their financial situation and live life to the full by sharing my own experiences with money and living abroad.
I upload content on a weekly basis about personal finance, how to invest your money, tips to help you save more money, real estate and property, and travel and living overseas.
Everybody is welcome in the Millennials With Money community! Let's get this money!!!
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#spain
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DISCLAIMER: The opinions and views shared on this channel are for entertainment and educational purposes only and are not to be taken as financial advice. Always conduct your own research prior to making any financial decision. Millennials With Money cannot be held responsible for any financial loss incurred from any decisions you make following this video.

Опубликовано:

5 авг 2024

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Комментарии : 12

@MillennialsWithMoney 2 месяца назад

Did you know about all of these different forms? Leave a comment and let me know!

@FarazVisuals 2 месяца назад

Great work man keep consistent your times come

@YoungRafoo 2 месяца назад

Muchas gracias, voy a pedir a mi abogado que me ayude con eso 😊

@MillennialsWithMoney 2 месяца назад

¡¡Gracias por ver el vídeo señor Rafa!! 😁

@Chinedu311 2 месяца назад

Informative as usual, i have some questions around that form 720. 1. Does the 50k mean money earned in the last year or total sum I have in an account even if I have been saving it for a while 2. Is it 50k in one country, what if I have a sum of 50k spread in like three countries 3. Is this money taxed or its just for informational purposes. If taxed, does that mean multiple taxation every year for the same portion that has been taxed in previous year. Thank you

@MillennialsWithMoney 2 месяца назад

Hey Chinedu, 1) It doesn't look at income, only assets. One might earn 100k and be paid into a bank account outside of Spain, but if they spend 70k and have not other assets, then the balance of the account wouldn't need to be declared (the income however would be considered for tax purposes). 2) As I understand it, it looks at any country, i.e. if a person has 60k of assets but they're spread across the UK, France and Germany, they'd have to declare all those assets regardless. 3) It's informative only. Any income and capital gains (whether made within Spain or abroad) should be declared already in the modelo 100, but the 720 model does not mean a person will pay more tax as a result of what they declare, unless of course through that form it comes to light that there has been income/gains generated abroad that haven't been declared when the person should have paid tax in Spain. Hope this helps!

@Chinedu311 2 месяца назад

@@MillennialsWithMoney it's clear now. Thank you

@savvyfreelancer4553 2 месяца назад

Can you take debt into consideration when trying to determine whether or not you have to declare your investment account balances each March?

@MillennialsWithMoney 2 месяца назад

I'm not sure about that but I'd probably guess no, best to consult with a tax professional on this.

@FlySR220 2 месяца назад

Hello there, I have a rather strange and probably Unusual Situation and Im not sure what Im required to do. I am just over half way through my first 5yr residency here in Spain, I have never worked in Spain and still dont have my social security number, I currently work in logistics for an Irish company but on a UK contract paying UK tax & N.I . I work only in England and Ireland two weeks on, and two weeks off (living in Madrid Spain). I marginely spend more time in Spain each year. All social activities are in Spain, all working time is in UK/Ireland earning £30k approx

@MillennialsWithMoney 2 месяца назад

I recommend speaking to an international tax advisor in this situation, as they’ll be able to clarify any tax obligations in both countries, keeping in mind as well that the U.K. and Spain have different tax years. Hope this helps and thanks for watching!

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