Investment Income-Personal allowance?

Information and questions about the Law in Spain and Andalucia.
Paddy Pumpkin Amigo
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Joined: Mon May 01, 2017 12:06 pm
Location: Madrid

Investment Income-Personal allowance?

Postby Paddy Pumpkin » Sat Jun 03, 2017 9:44 am

I have investment income as my main source of income. Do I get the personal tax free allowance.

Take as an example the following scenario

Spanish Tax resident with Investment income EUR 25,550 (from outside Spain with no witholding tax levied at source)
Am I taxed on 25,550 or on 20,000 (25,550 less personal allowance 5,550)?

In other words is the personal allowance only allowable against general income?

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Location: Caleta de Velez

Re: Investment Income-Personal allowance?

Postby fincalospinos » Sat Jun 03, 2017 4:09 pm

It is allowable against all income.
Hardworking resident !!

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