Spain
Capital gains, dividends, and interest fall into the progressive savings base at rates of 19 to 30 percent. This scale applies uniformly nationwide, unlike general income tax with its regional surcharges.
Spain splits its income tax system into two baskets. Salary and rental income fall into the general base, with rates that vary considerably by region. Investment income like capital gains, dividends, and interest, by contrast, falls into the so-called savings base, which is uniform across the whole country.
This savings base is progressively tiered: 19 percent up to €6,000, 21 percent from €6,000 to €50,000, 23 percent from €50,000 to €200,000, 27 percent from €200,000 to €300,000, and 30 percent above that.
There's no advantageous holding period: a security held for a day gets taxed the same as one held for ten years.
The tiers apply cumulatively, like income tax: only the portion of the gain within a tier gets taxed at that tier's rate, not the entire amount at the highest rate reached.
The Base Imponible del Ahorro covers investment income from movable assets uniformly across all of Spain, while the Base General with its regional component varies considerably between the autonomous communities. This strict separation means the choice of residence within Spain doesn't affect taxation of investment income from securities, though it does affect taxation of employment income.
The tier rates for 2026 are 19, 21, 23, 27, and 30 percent. The top rate was raised from a previous 28 percent to 30 percent effective January 1, 2026, while the other four tiers stayed unchanged from 2025.
A special regime is the so-called Beckham Law for newly arriving employees, granting a flat 24 percent rate on Spanish employment income for six years. Investment income from abroad under this regime still gets taxed under the regular savings-base scale, with a cap on foreign-earned income of up to €600,000.
Summary
- Investment income falls into a nationwide, uniform progressive savings base of 19 to 30 percent.
- No advantageous holding period.
- Unlike salary, the Spanish region doesn't matter for taxing securities gains.
Did you get it?
How does taxation of investment income differ from salary in Spain?
Investment income falls into a nationwide uniform savings base; salary is additionally subject to regionally varying surcharges.
How many tiers does the savings base have, and how do they work?
Five tiers from 19 to 30 percent, applied cumulatively like income tax, only to the respective portion.
Does a tax-advantaged holding period apply to Spanish investment income?
No, taxation is independent of how long you held it.
Sources and further reading
- Agencia Tributaria, Escala del ahorro del IRPF, as of 2026 View source ↗
- Ley 7/2024, raising the top savings-base tier from 28 to 30 percent effective 1 January 2026