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Tax Amnesty in Spain on Overseas pension income – Updated

Posted in: Latest News, News Articles,
Author: Philip Carroll
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In September I published a detailed blog about how there was nowhere to hide from the taxman. Since then the new legislation has been published and came into force on the 1st January 2015.

As I explained in the blog the Spanish government had discovered though exchanges of information that many residents of Spain were receiving pensions from overseas but not declaring them properly for taxation. As many of these were mainly older people recently moved to Spain, the government decided that these warranted special measures. So, in the draft law, now confirmed and in force, there is a voluntary period which runs from 1st January 2015 until the 30th June 2015 during which the situation can be regularised without penalties, surcharges and interest.

So,as from last Thursday 1st January 2015, anyone who has been resident in Spain for tax purposes (generally living here for more than 183 days in a calendar year) who received but did not properly declare pension income from overseas has an opportunity to remedy the position without penalty.

There is a document in our Library which explains the process of how to declare, and request exemption from fines and penalties. It can be found here.

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.

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