Value Added Tax is an indirect and general consumption tax assessed on the value added to goods and services. It is borne ultimately by the final consumer and is charged as a percentage of the price. Every consumer in Spain must pay it.
The Spanish tax on economic activities is a direct tax levied annually on the exercise of a business, professional, or artistic activity, regardless this activity is performed in business premises or not.
Corporate tax is a direct tax on corporate profits obtained within the taxation period, which normally coincides with the calendar year, unless a different period is stated in the company’s articles of association.
The Spanish law provides the inheritance and the gift tax together. This tax is payable on the increase of wealth obtained either from a dead individual or by way of gift from an individual still alive.
The Personal Income Tax is a direct tax levied on the income of individuals. The taxable income is determined as the difference between the income earned and the expenses that are deductible under Spanish law.