Before preparing your annual tax return, it’s essential to gather key figures. But where can you find them?

Annual tax returns typically cover the following income types:

1. Employment Income: Wages, salaries, pensions, and other compensation.

2. Real Estate Income: Rental income from properties.

3. Non-Real Estate Assets: Investments, cryptocurrency, etc.

4. Business Income: Income from self-employment or business activities.

5. Accrued Income: A type of wealth tax.

6. Capital Gains: Gains from the sale of assets.

Calculating the Taxable Amount

For each type of income, determining the taxable amount involves:

1. Gross income

2. Deductible expenses

3. Allowances and deductions

If taxes were withheld (in Spain or abroad), these should be factored in to reduce your overall tax liability.

Key Documents

Most of the necessary information comes from summaries or certificates provided by payers. If the income was earned in Spain, and the payer was required to withhold taxes, the tax authorities likely have that information already. However, the data might not be complete, particularly regarding deductible expenses.

Employment and Pension Income

• Pay slips

• Payer’s certificates

• If the income is from Spain, it will appear in your tax data automatically, so there’s no need to provide any additional document.

Business Income

Your accountant will provide summaries of business accounts showing gross income, expenses, and taxes paid.

Property Rental

Provide the following details:

1. Gross rental income

2. Deductible expenses

3. Registered property value

4. Type of lease (long-term or otherwise)

5. Taxes withheld

6. Number of rental days per year

Dividends

A certificate from the payer is required. If you have an investment portfolio, your bank should provide the necessary tax details.

Bank Interest

A certificate from your bank will cover any interest earned.

Cryptocurrency or Shares

Both are treated as assets, and capital gains occur when you sell them. The broker’s certificate should include:

1. Purchase price and date

2. Selling price and date

Property Sales

When selling a property, the capital gain must be declared. Ensure you have the following information:

1. Purchase price and date

2. Selling price and date

3. Deductible legal costs (e.g., notary, lawyer, agent fees) if you have invoices

4. If the property was used for business, depreciation amounts previously deducted must be included in the capital gain calculation.