Savings..

Last activity 27 April 2018 by Kilian59

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Kilian59New member27 April 2018 11:16:47

I plan to use my life savings to live on till I get to my pension age in 7 years.can anybody tell me will my savings be taxed by the Spanish government any help on this subject would be great...thanks

JohncarSpain expert27 April 2018 11:52:47

1412

Unless you have in excess of 1,000, 000 euros in assets there is no tax liability for a spanish tax resident to pay tax on just having the wealth. However if your wealth exceeds that there is a wealth tax

Of course you will be liable for tax on income from the wealth, interest for example, if that exceeds your tax free allowance

If you have more than 50,000 Euro outside spain then you will need to make declaration on form 720 that you have it

Take a look here re wealth tax

https://www.blevinsfranks.com/news/blev … spain-2017

Kilian59New member27 April 2018 11:57:10

Thank you

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