Note:

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There are three levels of taxation in Spain:

1. By the Central Government
2. By the Autonomous Community Governments
3. By the Local Authorities

Direct & Indirect Taxes

Direct Taxes	Indirect Taxes
corporate income tax	value added tax (VAT)
personal income tax	transfer tax & stamp duty
net worth tax (individuals only)	excise taxes
inheritance & gift tax (individuals only)	custom duties on imports

Local Taxes: Compulsory & Optional

Local taxes: Compulsory	Local taxes: Optional
IBI. (Property rates)	Construction/Erection/Installation
net worth tax (individuals only)	IAE. (Economic activity tax)
Opening licenses	Plus valia. (This is a type of capital gain based on the land element only).

As with all countries, tax structures change from year to year. Corporations, generally speaking, be they Spanish or permanent establishments of foreign companies, are taxed on net income at approx. 35%. From January 1, 07 capital gains tax will operate at a rate of 18% for both residents and non residents.

Income Tax:

There is a new framework as from January 1, 2007.

General Table: Euros

Tax base up to:(Euros)	Applicablerate:%
0 to 17360	24.00
17360 to 32360	28.00
32360 to 52360	37.00
52360 & upwards	43.00