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PUBLIC FINANCES

AND FINANCIAL
MARKETS
The Spanish tax system

13-NOVEMBER-2014

SANTIAGO ALONSO PEDREIRA


Erasmus

The Spanish tax system


CONTENTS

Introduction.................................................................................................... 2
The taxes........................................................................................................ 2
Basic regulations on taxation.........................................................................3
Principles of the Spanish tax system..............................................................3
Taxes in the Spanish Tax System....................................................................4
Types of taxes in Spain................................................................................... 5
Bibliography................................................................................................... 8

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The Spanish tax system


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Introduction
The tax system is the set of rules regulating tax relations
between the taxpayer and public institutions.
To meet public needs the state must have some resources.
Well, speaking of financial activity of the state as the set of
actions performed by the state for income and take the
steps necessary to achieve their ends.
Where the private sector has to make the state and for that
it needs to raise its citizens fails. Sometimes private
enterprise fails to sectors such as health, education, justice
and infrastructure and is the state that has to pay.
To provide all these services the various administrations can
do this by themselves or by going to their citizens and
demanding tributes resources.
Hence we extract two basic concepts: Public income and
Public spending.

The taxes
Taxes are the revenue that consist of financial performance
required by a Public Administration, following the
completion of the course the fact that the law ties the duty
to contribute, the primary purpose of obtaining income
needed to sustain public expenditure.
We can summarize the following characteristics of taxes:
They are coercive benefits, as it inevitably must
comply regardless of the will of the obligor.
The tax has always starts at a law.
Are cash benefits: Be satisfied with money.
The basis of taxes is to finance government spending.
Also used as an instrument of economic and social
policy.
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The Spanish tax system


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The collection that gets covers
public spending, but
has a particular involvement, is distributed from the
common ark as needed.

Basic regulations on taxation


In Spain the legal structure that defines the fiscal and tax
system is mainly composed of the following laws:

Spanish Constitution.
General Tax Law.
General Budget law.
The laws of the State budget each year.
The laws governing each tax.
The implementing regulations for the tax laws.

Principles of the Spanish tax system


All citizens contribute to the maintenance of public
expenditure according to their economic capacity through a
fair tax system based on the principles of equality and
progressive in no case be confiscatory character
The Spanish tax system is based on the following principles:
Principle of equality and generality: All Spaniards
are equal when it comes to paying taxes.
Principle of economic capacity: The amount of
income or wealth that a citizen has, therefore taxes
will have to consider this capability in determining
what each citizen must pay.
Progressive principle: The more economic capacity
you have, the more taxes paid progressively.
Principle of non-confiscatory: The tax may not
exceed taxable income or equity.
Principle of legality: Alone has the power to raise
taxes is the rule by law.
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The Spanish tax system


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Taxes in the Spanish Tax System


The difference between direct and indirect taxes in Spanish
Tax System:
Direct taxes are a set of taxes on income of individuals
and on corporate profits. Apply on income and on capital. In
the European Union, each member state has the right to
freely establish direct tax rates and the tax burden on
savings and capital gains.
Direct taxes are as follows:

Income Tax of the Physical People (PIT)


Corporate income tax (IS)
The Wealth Tax
Income Tax for Non-Residents
The on Successions and Donations Tax

Indirect taxes are applied to the operations of production


and consumption. They require a high level of alignment
and affect the free movement of goods and freedom to
provide services. The E.U. has harmonized taxes such as
Value Added Tax, excise motor fuel, alcohol or snuff that no
unilateral changes to these taxes distort competition
between companies. The establishment of minimum rates
of taxation prevents significant distortion effects on trade.
The indirect taxes are:

The on Value Added Tax (VAT)


Capital Transfer Tax and Stamp Duty (ITPAJD)
Excise
Tax on Insurance Premiums
Taxes on Games
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The Spanish tax system


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Types of taxes in Spain


In Spain we have a large number, variety and type of taxes
on all kinds of products, services or items, either staple or
luxury. Taxes are nothing more than an obligation of the
citizen to the government in the face of finance you, as tax
measures this set.
The Spanish tax system is divided into state, regional and
municipal taxes.
State Taxes:
Income Tax of the Physical People (PIT): It is the
tax on the income obtained by an individual resident in
Spain during a particular tax period.
Income Tax for Non-Residents: It is the tax on the
income earned in Spanish territory by individuals and
non-resident entities in it.
The on Value Added Tax (VAT): This tax is levied on
the supply of goods and services supplied by employer
or professional, Spaniards, for consideration, with
regular or occasional basis.
Corporate income tax (IS): This tax is levied on the
profit by legal entities such as corporations and other
entities such as cooperatives.
Excise: They are tax-specific nature which affect the
consumption of certain goods in addition to making it
as a general VAT tax. Are the tax on alcohol and
derived beverages, beer tax, the tax on mineral oils
tax on manufactured snuff, the electricity tax and the
tax on certain means of transport.
Tax on Insurance Premiums: This tax is levied on
insurance transactions and capitalization arranged by
insurance companies operating in Spain
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Regional taxes
Capital Transfer Tax: Gravel all operations where
there is a transfer of assets or property such as the
sale of a vehicle owner or the sale of land, lot or farm.
Stamp Duty Tax: This tax is levied on the
formalization of certain notary, commercial and
administrative documents in Spanish territory or
abroad with effect in Spain.
The on Successions and Donations Tax: This tax is
levied on income received gratuitously and
representing a capital increase produced by the
acceptance of an inheritance or a gift.
Special Tax on Certain Means of Transport: First
registration in Spain of vehicles, new or used, provided
the engine for propulsion of ships and pleasure boats
or water sports, airplanes, airplanes and other aircraft,
new or used.
Tax on Retail Sales of Certain Hydrocarbons: This
tax is levied on retail sales in the retail locations of
hydrocarbons such as gas stations, retail outlets or
consumption, and suppliers from refineries.
Tax the game: It is the tax on profit taking in
gambling.
Environmental Tax: This tax is levied on companies
with some sort of possibility of environmental damage,
such as greenhouse gas emissions, water treatment,
effluents or toxic waste dumps.

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The Spanish tax system


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Municipal taxes
Tax on Economic Activities: Gravel directly
engaging in any type of economic activity, both
individuals and corporations.
Real Estate Taxes: This tax is levied on the value of
real property and other rights relating real property
located in the municipality that collects tribute.
Tax on Construction, Installations and Works:
This tax manifesting wealth is evident when any
construction, installation or work that requires timely
municipal license is made.
Tax on the Increase in Value of Land: The tax
levied on the increase in value of urban land shown at
the time of transmission.
Tax Mechanical Traction Vehicles: This tax is levied
on the ownership of motor vehicles, suitable for use on
public roads.

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The Spanish tax system


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Bibliography
http://desarrolloprofesional.universia.es/emprendedores/obligacionesempresario/impuestos/
http://html.rincondelvago.com/sistema-tributarioespanol.html
http://html.rincondelvago.com/sistema-tributarioespanol_1.html
http://html.rincondelvago.com/sistema-tributarioespanol_3.html
http://www.ineaf.es/divulgativo/sistematributario/principios-del-sistema-tributario-espanol
http://definanzas.com/tipos-de-impuestos-en-espana/

Santiago Alonso Pedreira |Public Finances and Financial Markets

The Spanish tax system


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Santiago Alonso Pedreira |Public Finances and Financial Markets