The Beckham Law, actually called the special regime for workers posted to Spanish territory in the Personal Income Tax Law, is a special tax regime that offers advantageous taxation to those who move their residence to Spain.
Its main aspects are:
- It is an optional regime that can be applied on request to the Tax Administration (AEAT) and which requires certain requirements to be met.
- The applicant cannot have been a tax resident in Spain for the last ten (10) years.
- It is imperative that there is an employment reason justifying the move to Spain.
- If approved by the AEAT, the application will be for six years, although it can be cancelled earlier.
- The general taxable base will be taxed at a fixed rate of 24% up to a maximum of 600,000.00 € (six hundred thousand euros). Any excess will be taxed at 47%.
- Only income obtained in Spain will be taxed, as well as Wealth Tax will be declared for assets located in Spain and there is no obligation to file form 720.
(At Del Yerro Tuduri Estudio Fiscal, we will be happy to answer any questions you may have)