Spain income tax law for 2024 Spain Income Tax Rates for 2024

Spain Income Tax Brackets

Tax Bracket (yearly earnings) Tax Rate (%)
€0 - €17,707 15.66%
€17,707 - €33,007 18.27%
€33,007 - €53,407 24.17%
€53,407 and up 27.13%

Spain has a bracketed income tax system with four income tax brackets, ranging from a low of 15.66% for those earning under €17,707 to a high of 27.13% for those earning more then €53,407 a year.

How does the Spain Income Tax compare to the rest of the world?

Spain has one of the lowest income taxes in the world, charging a maximum income tax of 27.13%. Countries with similar tax brackets include Canada with a maximum tax bracket of 29.00%, Finland with a maximum tax bracket of 30.00% and Mexico with a maximum tax bracket of 30.00%. Keep in mind that our ranking measures only nationwide income taxes, and does not account for local income taxes at state, province, or municipal levels.

Spain Income Taxes
Maximum Income Tax Income Tax Allowance World Tax Rank
27.13% €5,131 ($0 USD) 27th of 34

What is the Spain Income Tax?

Spain's personal income tax is a bracketed income tax that must be paid yearly by all citizens to the government of Spain. Failure to pay, or underpayment of, the Spain income tax can result in high fees, fines, or jail time.

In addition to Spain's income tax, other taxes may apply to wages or profits earned, including social services, medical care, and capital gains taxes.

Spain Income Tax Allowance

Spain provides most taxpayers with an income tax allowance of €5,131, which can be kept as a tax-free personal allowance. Spain's tax credit is a basic (fixed) allowance available to all (single) taxpayers without dependents.

A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes. Generally, a tax credit is subtracted from your gross income before your taxable income is calculated.

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