WHO IS REQUIRED TO FILE TH INCOME TAX 2012 IN SPAIN

INCOME TAX FISCAL RESIDENTS IN SPAIN. Pursuant to article 96 of the Spanish Income Tax law and article 61 of the regulation (reglamento) of the mentioned law, the following persons are required to submit the Income tax declaration of 2012 in Spain. a) Taxpayers who have obtained an income in the year exceeding the amounts for each class or source that are highlighted below. b) Those taxpayers in Spain who, regardless of the amount and nature or source of the income earned, would be entitled to a deduction for investment in there prime home, special savings account for the purchase of their first home, international double taxation, or have made

contributions to individuals with disabilities, pension plans, insured pension plans, corporate pension plans, etc. c) Taxpayers in Spain who are required to file the Spanish income tax and apply for the refund arising from the Income Tax regulation to which they are entitled if proceeds. d) Taxpayers who are not required to file their Spanish Income Tax due to the amount and nature or source of their income earned during the year, but are applying for the refund arising from the Income Tax regulation in Spain. Who is not required to file Spanish Income Tax at the Inland Revenue?

1. Taxpayers whose income is derived solely from the following sources, provided they do not exceed any of the limits mentioned in each case: A) Gross salary out of work (including, among others, retirement pensions, including those from abroad, as well as non-exempt alimony and annuities for alimony) for an amount not exceeding: Euros 22,000 per year, generally.

Euros 11,200 per year in the following cases: a) When income is paid by more than one employer. However, the limit is Euros 22,000 per year in the following cases: 1 where, the income is generated by more than one employer, the sum of the amount received from the second and other employers may not exceed the total amount of 1.500 Euros. B) Income from immovable capital (non-exempt dividends, interest on accounts, deposits or fixed income securities, etc.) and capital gains (gains from reimbursement on shares in investment funds, prizes for participation in competitions or lottery, etc.), provided that the income has been subject to advanced tax payments and the overall amount does not exceed the amount of 1,600 euros per year. C) Deemed Income Tax, income from immovable capital not subject to advanced tax payments arising from treasury bonds and subsidies for the acquisition of subsidized housing with a limit of 1,000 Euros per year. For any legal or tax inquiry, do not hesitate to contact the multi-lingual tax lawyers of Arcos & Lamers Asociados, your Registered Accountants (economists), lawyers and tax advisers in Spain. Arcos & Lamers Asociados:Accountants in Spain, tax advisers in Spain, Spanish tax specialists, Income tax specialists in Spain, tax lawyers in Spain, Tax law firm in Spain.

www.arcos-lamersasociados.com Marbella, 2013