HomePage | Contact Us | About Us

Web worldwide-tax.com

Spain 2010 New Tax Rates February 2010 According to the Spanish Budget Law from 1.1.2010 the standard 30% corporate tax rate would be reduced to 20% for SMEs, small and medium size enterprises. The current 18% income tax rate on saving income would be raised to 19% for income up to EUR 6,000 and 21% for income exceeding this limit. From 1.7.2010 the standard V.A.T. rate would be raised from the current 16% rate to 18%. Spain New 43% Tax Rate for Footballers November 2009 The Spanish government plans to raise the tax rate for foreign football players earning more than EUR 600,000 per year. Currently foreign footballers pay 24% tax under the "Beckham Law" effective from 2002. From 1.1.2010 the new tax rate will rise to 43%. The new tax rate will apply only to new contracts signed by foreign footballers and skilled people from 1.1.2010 onwards. So far, due to the 24% low tax rate the Spanish football league has been very attractive to foreign top footballers who enjoyed a low tax rate compared to the higher tax rates in other European countries.

© All copyrights reserved