Pension Income In Spanish

The national pension rate decreases as earnings related pension income rises and the pension stops altogether if the earnings related pension exceeds a certain amount in 2007 this was between 915 21 and 1074 63 euros month depending on the person s place of residence and marital status.

Pension income in spanish. In 2010 the average pension was 906 euros per month. State pension state pensions are paid gross and are taxed in spain once the taxpayer becomes resident for tax purposes. This is the highest among eu countries. The contributory retirement pension pension por jubilacion ordinaria represents the main source of retirement income for approximately 8 75 million pensioners in spain.

The taxation of pension income in spain is an incredibly complex area and taxation varies depending on the type of pension and the source of the income. The acquisition of a real estate in spain by a non resident natural person entails periodic tax obligations which go beyond the initial payment of those taxes derived from the act of acquisition impuesto sobre el valor añadido or value added tax impuesto sobre transmisiones patrimoniales or transfer tax or impuesto sobre sucesiones y donaciones or inheritance and gift tax as applicable. Spanish pension rates and contributions. See 5 authoritative translations of pension in spanish with example sentences phrases and audio pronunciations.

Pre tax pension rates for a full pension in spain are over 81 of gross annual salary.