Latest news with #Wallapop
Local Spain
28-03-2025
- Business
- Local Spain
The changes to Spain's income tax declaration in 2025
Spain's annual income tax return is called 'la declaración de la renta'. This year, you must file your taxes for 2024, but there are some changes you should be aware of for this campaign. Personal income tax is known as IRPF in Spain (Impuesto sobre la Renta de las Personas Físicas) and is commonly shortened to la renta. Unlike in some other countries, the Spanish tax year runs from January 1st to December 31st, meaning that during the 2025 tax campaign this year you will present your taxes from last year - that is, from January 1st to December 31st 2024. First things first. You need to present a tax return in Spain if: You are employed and have an annual income over €22,000 from a single employer. You have earned over €15,876 from multiple employers, as long as the amount from the second or third employer exceeds €2,500 per year. You are self-employed or have your own business – known as autónomo in Spain. Your income from yearly dividends, interest and capital gains exceeds €1,600. You receive rental income over €1,000 per year. It is the first year that you are filing a tax return in Spain. For a full breakdown of the key dates for this year's campaign, read our guide below. Tax changes for 2025 Digital platforms For this year's campaign, the Spanish tax authorities will increase its monitoring of income earned on digital and online platforms. This not only requires self-reporting on income, but requires these platforms (think Wallapop or Ebay) to report data on the sale of new and second-hand services and items. Spain's state broadcaster RTVE states that someone could be chased up by the treasury if they have sold more than 30 second-hand products on the same platform, or if any of these transactions or the total exceeds €2,000 without declaring them. Limits for people with more than one income stream Last year, taxpayers with incomes under €22,000 per year and more than one employer or income source were exempt from personal income tax, provided that the income from the second or remaining payers did not exceed €1,500. The total amount of gross income earned from the second or third employers or sources has now been raised to €2,500. This means that more taxpayers will be exempt from filing their income tax returns, as the threshold for not filing taxes has been increased by €1,000. Unemployment benefits This year it will be mandatory for those receiving unemployment benefits regardless of the amount, the number of days they have received it, or whether or not they meet the minimum requirements for filing. Failure to include the benefit in your tax return could result in it being stopped. Donations Taxpayers will be able to deduct 80 percent of the first €250 they have donated to official organisations or charities. Until now, it was only on the first €150. For amounts above that figure, the deduction will be 40 percent, instead of the 35 percent in force until now, and if donations have been made to the same organisation in the previous two years, it increases to 45 percent. Tax compensation for the Valencia floods As part of the aid plan launched by the Spanish government and Valencian authorities, this year will also see several tax benefits that directly benefit people affected by the Valencia floods. These include the exemption from the Property Tax (IBI) in 2024 and the reduction in the tax on Economic Activities (IAE). It will also be possible to deduct 100 percent of the repair costs for damage to main residences caused by the flash flooding. New payment methods Tax can now be paid via Bizum or bank card. Penalty for failure to file If you owe tax and for any reason you haven't filed your return, you must pay the amount due along with a fine that can range from 50 to 150 percent of the total. Changes in deductions for housing rental Until now, having a home and putting it up for rent on the market as a primary residence brought deductions of up to 60 percent. This year, in most regions there will be a generic deduction of 50 percent, but in the regions where the rental market has been declared as 'stressed' (Catalonia), special deductions will apply: Up to 90 percent if the rental price has been reduced by at least 5 percent. 70 percent if it has been rented to young people under 35. 60 percent if the property has been refurbished.
Local Spain
10-02-2025
- Business
- Local Spain
The cities in Spain where you can buy a 3-bedroom flat for under €150,000
The Spanish property market has experienced an upward surge in recent years, with both the purchase and rental prices inflating. This is especially true in the post-pandemic period, and even truer of the rental markets in Spain's major cities, where average rents have broken the €1,000/month barrier in many places. As such, where possible, some may now look at the Spanish market and decide buying a place (or getting a mortgage, at least) might work out better for them in the long-term -- before it's too late. Obviously, it should be said that location, atmosphere, connectivity, climate and many other considerations factor into these sorts of decisions, but price usually does too. The average was calculated by taking the average price of the first three listings of three-bedroom properties that were not classified as 'top' or 'featured' on the Idealista property website. All prices were obtained in December 2024. The cities in Spain where you can buy a three-bedroom flat for under €150,000 Huelva This lesser known city on Andalusia's Atlantic coast has an average price for a three-bedroom property of just €112,667, the lowest on Wallapop's list. It's also very close to the provincial capital, Seville, which is just 92.5 km away. Mérida In second place is Mérida in the neighbouring region of Extremadura. This beautiful city is full of culture and unique landscapes, and average prices are around €126,000, so it's affordable too. Ceuta One of Spain's autonomous cities in North Africa, if you are looking for a more drastic change and feel like leaving the mainland, you can find a three-bedroom property for around €140,000 there. Lleida Lleida in the northern Catalonia region is another good option for buying a cheaper property, with average prices for a three-bedroom flat around €144,334. It's also relatively close to Barcelona (about 158 km away) for those who want to enjoy the hustle and bustle of the city now and then. Salamanca In fifth position is Salamanca, in the region of Castile and León. This city, home to one of the oldest universities in Europe and the tallest cathedral in Spain, has three-bedroom flats with an average price of around €149,960. Salamanca is just 120km from Valladolid and 220km from Madrid for those who want a getaway to the capital. Cuenca Known for its iconic Hanging Houses (casas colgadas), Cuenca in Castile-La Mancha has an average price of around €150,000 for a three bedroom place. It's known for its old fashioned Manchego charm but is also less than 180 km from Toledo and about 90 minutes from Madrid by train, making it a very well connected city as well as affordable.
