Free tools / Spanish savings tax calculator
Spain: savings income tax calculator (IRPF del ahorro)
Calculate IRPF on capital gains, dividends and interest using the progressive savings bands, after offsetting losses.
Band thresholds and rates are inputs because they change; verify the current year before relying on the figure. Not tax advice.
Spain taxes investment income in a separate savings base, not at your general income rates. The savings base is progressive: the first slice is taxed at the lowest band and each further slice at a higher one, so a large gain is never taxed entirely at the top rate.
This calculator applies the bands in order, after offsetting any losses you enter, and shows both the tax due and the effective rate. The bands are editable because they have been extended upwards more than once in recent years.
Losses offset gains, with limits
Capital losses offset capital gains in full within the same year. If losses remain, up to 25% of them can be set against interest and dividend income in the same savings base, and anything still unused carries forward for four years.
The two-month rule matters when harvesting losses: if you repurchase the same listed security within two months of realising a loss, the loss is not deductible until you finally dispose of the replacement holding.
What counts as savings income
Gains on the sale of shares and funds, dividends, and interest all sit in the savings base. Transfers between Spanish investment funds can be rolled over without triggering tax, which is a genuine advantage of the fund wrapper for long-term investors.
Regional differences apply to some taxes in Spain, but the savings base rates are set at state level and are the same across the mainland regions. Residents of certain territories have distinct regimes.
Frequently asked questions
What are the savings tax bands?
The savings base is charged in ascending bands, starting at 19% on the first slice of income and rising through further bands for larger amounts. The exact thresholds and the top rate have been changed several times, so this calculator exposes them as editable fields; check the figures for the current tax year.
Do I pay tax if I switch between funds?
Spanish rules allow a traspaso between qualifying investment funds without realising the gain, so the tax is deferred until you finally cash out. This does not apply to ETFs in the same way, which is a common and expensive misunderstanding.
Are dividends taxed at the same rate?
Yes, dividends and interest fall into the same savings base as capital gains and are taxed with the same progressive bands. Withholding is applied at source and settled in your annual declaration.
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