National budget bill of Spain for 2014 was presented on 30 September 2013 in the Spanish Parliament. The 2014 draft budget has proposed an amplification of the surcharges for 2014. On the other hand, it has been also raised to hold the Wealth Tax in abeyance again for 2014.
Income Tax 2014 for Resident
- Supplementary surcharge for savings income like dividends, interest, capital gains and losses within more than one year, etc ranges from 2% to 6% so the effective tax rates are from 21% to 27%.
- For the standard taxable base (employment income, self-employment and business, rentals and capital gains within one year) the percentage goes from 0.75% on the lowest band up to 7%, so effective tax rates are from 24.75% to 52%.
Income tax 2014 for Non-resident
- The capital gains tax rate remains at 21% and the standard Income tax rate also remains at 24.75%.
Wealth Tax for 2014
- Both the residents and non-residents, it has been proposed to hold the tax in abeyance so no Wealth Tax would be demanded for 2014.
