Estimate your Spanish CGT liability on shares, property, funds, and cryptocurrency — for both residents and non-residents. Results are indicative; always verify with a qualified tax lawyer.
Spain taxes capital gains as part of the base imponible del ahorro — the savings income tax base — which is separate from the general income tax base. This means that gains from selling shares, property, cryptocurrency, and other financial assets are all taxed at the same progressive savings rates, irrespective of how long you held the asset.
One of the most important things to understand is that Spain abolished the distinction between short-term and long-term gains in 2015. There is no reduced rate for assets held longer than one year — the savings scale applies from day one of ownership. This contrasts sharply with the UK, US, and many other jurisdictions that reward long-term holding with lower rates.
Capital losses can offset capital gains within the same tax year across all asset classes within the savings base. If losses exceed gains, the net loss can be carried forward for up to four consecutive years and offset against future gains. Note that from 2015, there are also limited rules allowing cross-base offsetting (capital losses offsetting certain capital income), subject to a 25% cap.
Enter your figures below. Results are indicative estimates only — see disclaimer at the bottom of this page.
The Spanish savings income scale applies progressively. Non-residents pay a flat rate regardless of the size of the gain.
| Net Taxable Gain Bracket | Resident Rate | Cumulative Tax (at bracket ceiling) | EU/EEA Non-Resident | Third-Country Non-Resident |
|---|---|---|---|---|
| First €6,000 | 19% | €1,140 | 19% flat (all gains) | 24% flat (all gains) |
| €6,001 – €50,000 | 21% | €10,380 | ||
| €50,001 – €200,000 | 23% | €44,880 | ||
| €200,001 – €300,000 | 27% | €71,880 | ||
| Above €300,000 | 30% | Progressive |
Note: There is no distinction between short-term and long-term gains in Spain. The same savings scale applies regardless of holding period. The 27% and 30% brackets were introduced for fiscal year 2024.
A Spanish resident sells shares with a net taxable gain of €80,000. The tax is calculated in slices: 19% on the first €6,000 (= €1,140) + 21% on the next €44,000 (= €9,240) + 23% on the final €30,000 (= €6,900). Total CGT = €17,280 — an effective rate of 21.6% on the total gain.
Property sales are one of the most common CGT events for both residents and non-residents in Spain. Several special rules apply that can dramatically affect the final liability.
When a non-resident sells Spanish property, the buyer is legally obliged to withhold 3% of the agreed sale price and pay it to the AEAT via Modelo 211 within one month of the transaction. This is an advance payment on the seller's IRNR capital gains tax — not the final liability. The non-resident seller must then file Modelo 210 within three months of the sale to calculate the actual CGT, and either receive a refund (if the 3% withholding exceeded the actual tax) or pay the balance (if the actual CGT is higher). The AEAT typically processes refunds within six months.
Spanish tax residents who sell their main residence (vivienda habitual) and reinvest all of the proceeds into another main residence within two years (either before or after the sale) are fully exempt from CGT on the gain. Partial reinvestment yields partial exemption — the portion of the proceeds reinvested is exempt, while the balance is taxed at the savings scale rates. This relief requires the property to have been the taxpayer's actual main residence for at least three continuous years prior to the sale (with certain exceptions for forced moves).
Spanish tax residents aged 65 or older who sell their main residence are fully exempt from CGT on the entire gain, regardless of whether they reinvest the proceeds. This is a categorical exemption — no conditions on reinvestment apply. Additionally, individuals over 65 who sell any asset (not just their main residence) and use the proceeds to purchase a qualifying life annuity (renta vitalicia) can also exempt up to €240,000 of the gain.
Prior to 2015, Spain applied coeficientes de actualización (inflation adjustment coefficients) to the purchase price of real estate, reducing the taxable gain. These were abolished entirely from 2015 — there is no indexation adjustment available for properties sold today, regardless of how long they have been held.
Where property is held in split ownership (usufruct / bare ownership — usufructo / nuda propiedad), the gain on each component is calculated separately according to actuarial tables. The usufructuary and the bare owner each have their own CGT calculation, often resulting in a significantly lower combined liability than if one person had held full ownership.
Plusvalía municipal (IIVTNU): In addition to Spanish CGT, sellers of urban land pay a separate local tax — the Impuesto sobre el Incremento del Valor de los Terrenos de Naturaleza Urbana — to the local council. This is calculated on the increase in cadastral land value and is not deductible from your CGT base for IRPF or IRNR purposes. Since the Constitutional Court ruling of October 2021, taxpayers may choose between the objective method and the real-gain method, and may challenge assessments where no real gain occurred.
Gains on the disposal of shares, investment funds, and ETFs are among the most frequent CGT events for internationally mobile individuals in Spain. The rules contain several important nuances that can affect both the amount and timing of the taxable event.
When you dispose of shares in a company that you acquired in batches at different dates and prices, Spain applies the FIFO (first-in, first-out) method within the same class of securities. The earliest-acquired shares are deemed sold first. This means that if your earliest shares have the largest gain, FIFO increases your CGT compared to an average-cost or LIFO method. Accurate records of all acquisition dates and prices are essential.
One of the most valuable CGT deferral mechanisms available in Spain is the Article 94 LIRPF fund-switching regime. Spanish tax residents who hold investment funds registered with the CNMV (Comisión Nacional del Mercado de Valores) in Spain can switch from one fund to another without triggering a CGT event, provided the switch is executed directly between funds without the money passing through the investor's account. This allows unlimited internal rebalancing and fund selection changes without realising a taxable gain — a powerful tool for long-term portfolio management. Critically, this relief only applies to Spanish-registered funds. Funds registered in Luxembourg, Ireland, or other jurisdictions do not qualify.
Exchange-traded funds (ETFs) do not benefit from the Article 94 switching privilege — even if the ETF is a UCITS fund. Every sale of an ETF position is a taxable disposal, and gains are subject to CGT at the savings rate applicable to the net gain amount. This is an important distinction for investors comparing funds and ETFs with identical underlying exposure.
Spain applies an anti-avoidance rule targeting "loss harvesting" strategies. If you sell shares at a loss and then repurchase the same or similar securities within two months (for listed securities) or one year (for unlisted), the capital loss is disallowed at the time of sale and deferred — it only becomes deductible when you eventually dispose of the repurchased position. This is broadly equivalent to the US "wash sale" rule. Careful timing of year-end loss realisations is essential to ensure the deduction is available when needed.
Spain's tax treatment of cryptocurrency has evolved rapidly, and the current position is now relatively clear — though significant compliance risks remain for those who have not kept precise records of all transactions.
Following the Finance Law 2023 (Ley 13/2023), crypto-asset gains are explicitly classified as ganancias y pérdidas patrimoniales — capital gains and losses within the savings base. This means gains are taxed at the same 19–30% progressive savings scale as shares and property. The classification applies to all crypto-to-crypto swaps, crypto-to-fiat conversions, and use of crypto to purchase goods or services (since each is treated as a disposal at market value).
The FIFO rule applies to crypto-assets in the same way as shares. When you dispose of Bitcoin, Ethereum, or any other crypto-asset, the earliest-acquired units are deemed sold first. With the price volatility of crypto markets, this can produce very different tax results depending on market conditions at the time of disposal. Detailed transaction records — covering every acquisition, its date, and its euro value at acquisition — are mandatory.
Staking rewards, lending income, and liquidity mining rewards are classified by the AEAT as rendimientos del capital mobiliario — capital income — rather than capital gains. This means they are also taxed within the savings base, but they are treated as income in the period received (at the fair market value at the date of receipt), and they establish a new cost basis for the tokens received. A subsequent sale of those staked tokens will then give rise to a capital gain or loss calculated from that cost basis.
Decentralised finance (DeFi) transactions — including liquidity pool contributions, yield farming, and protocol swaps — present significant classification challenges. The AEAT's position on many DeFi operations is still evolving, and conflicting interpretations exist. Losses arising from rug pulls, hacks, or protocol failures are also treated inconsistently in the administrative and judicial guidance available to date. Early voluntary disclosure and professional advice are strongly recommended for any taxpayer with material DeFi exposure.
From 2026, crypto-asset service providers (CASPs) — including exchanges such as Coinbase, Kraken, and Binance — operating within the European Union will be required to automatically report client account balances and transactions to national tax authorities under the EU's DAC8 directive and the OECD's CARF standard. The Spanish AEAT will receive these reports automatically, meaning the era of practical anonymity for crypto holdings is definitively over. Any undeclared crypto gains from prior years should be regularised through voluntary disclosure before these reports start flowing, as post-disclosure penalties are substantially lower than post-investigation penalties.
The calculator gives you an estimate — but your situation may involve treaty relief, exemptions, or planning opportunities that change the picture significantly. Jacob responds within one business day.
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