What is taxed (and what is not)
The regime's tax mechanics: what falls into the Spanish net, at what rates, and which resident obligations disappear.
Worldwide employment income
Under the regime, as a general rule your employment income is deemed obtained in Spain and taxed here. It is taxed at the flat 24% up to €600,000 and 47% on the excess. How this interacts with foreign withholdings and tax treaties depends on each country pair and should be reviewed professionally.
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Spanish-source savings income
Dividends, interest and capital gains arising in Spain are taxed under the regime on a progressive savings scale of 19/21/23/27/30% (the 30% bracket was added by Law 7/2024 with effect from 2025). Foreign passive income, by contrast, generally falls outside Spanish taxation while the regime applies. Correctly classifying the source of each item of income is one of the most consequential, and most technical, parts of the annual Form 151.
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Form 720 (foreign assets)
The informational return on assets held abroad that ordinary Spanish tax residents may have to file. Taxpayers under the Beckham regime are exempt from filing it while the regime applies: one of its most valued practical advantages, especially for people who keep investments in their home country. What happens when the regime ends is worth planning in advance rather than discovering later.
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Personal allowance
Ordinary IRPF grants personal and family minimums that shield part of your income from tax; under the Beckham regime these do not apply, and neither does the general reduction for employment income (art. 20). Tax runs from the first euro at the flat rate. This is a key reason lower salaries can be better off under ordinary IRPF: worth running the numbers before opting.
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Imputed real-estate income
A notional income Spanish tax law attributes to owners of certain non-rented properties. Whether it applies to the home an inbound taxpayer owns and lives in is currently disputed: TEAC resolution RG 3697/2025 addresses the point and the conflict remains live, the Madrid High Court (TSJ Madrid) has granted refunds to some taxpayers, and a related European Commission infringement file exists. This is an evolving area: be wary of categorical answers and take advice on your specific case.
The imputation dispute →
Wealth tax & solidarity tax (IP / ITSGF)
Under the regime you pay Spanish wealth taxes only on assets located in Spain ("obligación real"). The tax authority confirmed this in an official ruling covering both the wealth tax and the solidarity tax, which applies above €3M of net wealth with a mirror design. Two fine-print traps: shares in a NON-listed company (even a foreign one) whose assets are 50% or more Spanish real estate count as Spanish assets, measured at market value; and only debts tied to your Spanish assets are deductible. The solidarity tax was born "temporary" and has been extended. Its status is worth re-checking each year.
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Inheritance & gift tax while in the regime (ISD)
The asymmetry almost nobody mentions: while your wealth tax covers Spanish assets only, inheritances or gifts you RECEIVE while tax-resident under the regime are taxed in Spain on a personal basis, wherever the assets are located, under the rules of your region of residence (administrative doctrine, 2024). If you expect an inheritance during your six years, this deserves planning before you opt in, not after the funeral.
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Two payers
Having more than one payer while in the regime, typically two Spanish employment contracts, or a Spanish payroll plus a foreign one. Holding two contracts at once is not in itself a ground for exclusion (professional athletes are the one express exception in the law). The trap is mechanical rather than legal: the €600,000 mark that triggers the higher withholding rate is applied by each payer separately, while the tax itself is worked out on your total taxable base. Two payrolls can therefore withhold at 24% each and still leave a balance to settle in the annual Form 151. A payer abroad withholds nothing in Spain and still adds to that base, so the arithmetic is worth doing before you sign the second contract, not in April.
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Reinvestment relief on your main home
Ordinary Spanish income tax lets a resident who sells their main home and buys another one leave the gain out of tax (art. 38 LIRPF), with two years to reinvest. Whether that relief reaches someone taxed under the impatriate regime is not settled: the administrative criterion has treated main-home concepts as belonging to ordinary IRPF, while a line of Madrid High Court rulings holds that the regime sits inside IRPF. No ruling has applied the relief to an impatriate yet, and the ruling most often quoted as authority actually answers for people who do NOT take the regime. The prudent route is to file without the relief and keep the year open by way of a correction request, which is why a sale is worth planning before the notary, not after.
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