What exactly is meant by the Ahorro Tariff in Spain?

The Ahorro Tariff (Renta del Ahorro) is the Spanish tax rate for capital income such as dividends, interest, and gains from the sale of shares, funds, and real estate. For residents, a progressive rate of between 19 and 28 percent applies.

As a non-resident, do I also have to pay the progressive Ahorro Tariff?

No, non-residents pay a flat rate of 19 percent on the capital gain, regardless of the amount, declared via Modelo 210.

How do I avoid double taxation on German dividends?

Thanks to the double taxation agreement, the withholding tax deducted in Germany can be credited against the Spanish tax liability up to 15 percent; this credit is applied via the annual Modelo 100 declaration.

What is the Traspaso rule?

It allows tax-free transfers between investment funds, so that taxation of the gain is deferred until capital is actually withdrawn from the fund.

What deadlines apply when non-residents sell property?

The buyer must pay the 3 percent withholding within one month via Modelo 211, and the seller must submit the actual tax return via Modelo 210 within four months of the sale.

Do I benefit from tax advantages on capital income under the Beckham Law regime?

Yes, under the Beckham Law, foreign capital income such as dividends, gains, and rental income remains tax-free, while Spanish income up to €600,000 is taxed at a flat rate of 24 percent.

What happens if 3 percent was mistakenly withheld from me as a resident?

This withholding actually only applies to non-residents; if it was nevertheless deducted from you as a resident, you can reclaim the wrongly withheld tax from the Agencia Tributaria.

Do I also need to report my foreign assets?

Residents with assets abroad may be subject to the reporting obligation via Modelo 720, independent of the ongoing income tax return.

Capital Gains Tax Spain 2026: The Ahorro tax rate explained

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Taxes as a resident

What is the Ahorro tariff – and who is affected?

The Spanish income tax law (Ley del Impuesto sobre la Renta de las Personas Físicas, IRPF) distinguishes between two main categories of income: the Renta General (employment income, rental income) and the Renta del Ahorro – the savings or capital gains tariff. The Renta del Ahorro covers dividends, interest income, gains from the sale of shares and funds, as well as gains from property sales. The state tax authority Agencia Estatal de Administración Tributaria (AEAT), colloquially known as "Hacienda", is responsible for collecting it.

You are considered tax resident – and therefore liable for tax on your worldwide income in Spain – if you spend more than 183 days in the calendar year in Spain or if the centre of your economic or vital interests is there. For this group, the progressive Ahorro tariff of between 19 and 28 percent applies. Anyone who is not tax resident is taxed under different rules – more on this below.

Note: Correctly determining your tax residency is the most important step before any capital gains planning. More on this in the guide Taxes as a resident.

Tax rates 2026 at a glance

The Ahorro tariff is progressively tiered: the higher the annual capital gain, the higher the applicable rate within the range of 19 to 28 percent. The top rate has been raised several times in recent years – this mainly affects residents with high gains, for example from a larger property sale or an extensive securities portfolio.

Status	Tax rate on capital gains	Legal basis / source
Resident, standard IRPF	19–28% progressive (Renta del Ahorro)	Ley IRPF, AEAT
Resident under the Beckham Law	Spanish income possibly flat 24% up to €600,000, foreign capital gains tax-free	Special regime Beckham Law
Non-resident (e.g. property sale)	flat 19%	uniform rate for all non-residents

Attention: The progressive Ahorro tax scale mainly affects larger capital gains, for example when selling a holiday property on Mallorca. Plan the timing of the sale and the realisation of the gain accordingly with your tax adviser.

Dividends from Germany: avoiding double taxation

Anyone who, as a Spanish resident, continues to hold German shares or funds will inevitably encounter German capital gains tax (Abgeltungsteuer) withheld at source. Germany withholds tax at source on distributed dividends. Thanks to the double taxation agreement (DTA) between Germany and Spain, up to 15 percent of this withholding tax can be credited against the Spanish tax liability – so the income does not have to be taxed twice in full.

Situation	Germany	Spain
Dividend from German shares to a Spanish resident	Withholding tax of up to 15% under the DTA	Crediting of the 15% against the Spanish tax liability
Declaration of income	reported via the German custodian bank	Entry in the annual return, Modelo 100

Here's how to proceed:

Collect the annual tax certificates from your German custodian bank (containing the withholding tax deducted).
Enter the gross dividend and the German tax withheld in your Spanish tax return (Modelo 100) under capital income.
Have your tax adviser offset the creditable 15 percent – the German withholding tax often exceeds the creditable amount, so it may be worth applying for a refund in Germany.

Note: A Spanish bank account makes handling dividend and interest payments considerably easier. Details on this can be found in the guide Opening a bank account in Spain.

Gains from shares and funds: the Traspaso rule

A Spanish peculiarity for investors in investment funds is the so-called Traspaso rule. It allows tax-free transfers from one investment fund to another without immediately triggering a taxable capital gain. Taxation is thus deferred until capital is actually withdrawn from the fund wrapper. For investors who rebalance regularly, this can result in a significant tax deferral effect – unlike direct investments in individual shares, where every sale immediately triggers a taxable gain or loss.

Attention: The Traspaso rule generally only applies to investment funds registered or authorised for distribution in Spain – not automatically to every foreign fund product. Check the authorisation with your bank or adviser before switching.

Non-residents: 19 percent flat rate and separate deadlines

Anyone who is not tax-resident in Spain but, for example, sells a property there is taxed differently. For non-residents, a uniform rate of 19 percent on the capital gain has applied for years – regardless of whether the seller is from an EU country or from outside the EU.

Process	Form	Deadline
Withholding tax retained by the buyer (3% of the purchase price)	Modelo 211	within 1 month of the sale
Tax return on the actual profit	Modelo 210	within 4 months of the sale

When selling a property, the buyer automatically withholds 3 percent of the purchase price and pays this amount to the tax authority via Modelo 211. If this withholding exceeds the actual tax liability of 19 percent on the profit, you can reclaim the difference via Modelo 210; if too little was withheld, the difference must be paid.

Example calculation: Sale price €250,000, purchase price €180,000, deductible costs (notary, lawyer, estate agent's commission, ITP/IVA, structural improvements) €10,000 → profit €60,000 → tax at 19% = €11,400.

Attention: There are no tax concessions for non-residents – neither a reinvestment exemption nor an exemption from age 65, as may exist for residents under certain conditions.

Residents beware: Incorrect tax withholding on property sales

In practice, it happens that notaries or buyers mistakenly apply the 3 percent withholding for non-residents to residents – for example, because residency status was not correctly documented at the time of sale. In such cases, capital gains tax was wrongly withheld and must be actively reclaimed from the Agencia Tributaria.

Note: Be sure to clearly prove your resident status (Certificado de Residencia Fiscal, Empadronamiento) at the notary appointment to avoid unnecessary withholding. More on registration in the guide Empadronamiento.

Beckham Law: Special case for newcomers

Anyone who moves to Spain and meets the requirements of the so-called Beckham Law special regime can benefit from a different tax system: Spanish income up to €600,000 is taxed at a flat rate of 24 percent, for the year of arrival plus the following five years (a total of six tax years). The decisive advantage for investors: Foreign capital income – i.e. dividends, capital gains and rental income from abroad – remains tax-free under this regime, as only Spanish income is captured.

Feature	Beckham Law
Tax rate on Spanish income	24% flat up to €600,000
Duration of validity	Year of arrival + 5 subsequent years (6 tax years)
Foreign capital income	tax-free (dividends, gains, rents abroad)

Note: The Beckham Law regime must be applied for within the deadline and is subject to strict conditions. Details in the guide Beckham Law Spain.

Reporting obligations: Modelo 100, Modelo 720 and deadlines

For residents, the annual income tax return (Declaración de la Renta, Modelo 100) is the central process for declaring all income – including all capital gains from domestic and foreign sources. Residents who also hold assets abroad may, under certain circumstances, need to observe the reporting obligation under Modelo 720.

Form	Purpose	Target group
Modelo 100	annual income tax return incl. capital gains	Residents
Modelo 210	Declaration of capital gains (e.g. property)	Non-residents
Modelo 211	Withholding tax retention (3%) by the buyer	Non-residents (buyer side)
Modelo 720	Reporting of foreign assets	Residents with assets abroad

Note: You can find details on the reporting obligation in the guide Modelo 720 reporting obligation.

Most common mistakes with capital gains tax

Residency status not proven: Leads to an unnecessary 3 percent withholding on property sales, even though as a resident you would actually be taxed according to the progressive Ahorro rate.
German withholding tax not credited: Anyone who does not claim the DBA credit of up to 15 percent effectively pays tax twice on the same dividend.
Cosmetic instead of structural renovations deducted: When selling a property, only genuine structural improvements count as deductible costs – painting or new flooring do not count.
Deadlines for Modelo 210/211 missed: The 4-month deadline after the sale for non-residents is often underestimated.
Traspaso rule applied incorrectly: Not every foreign fund is approved for tax-free switching.

What happens next? Review, refund, back payment

After submitting your tax return, the Agencia Tributaria reviews the declared capital gains, especially for larger amounts or property sales. If more than the actual tax liability was withheld at the time of sale (Modelo 211), a refund is usually issued after review of the Modelo 210. If too little was withheld, the authority will demand the difference. In case of discrepancies or tax wrongly withheld, it is worth having a lawyer review the case in order to actively claim the refund.

Checklist: correctly taxing capital gains in Spain

Tax residency clearly established (183-day rule, centre of life)
All capital gains (domestic and foreign) compiled for Modelo 100
German annual tax certificates available for DTA offsetting
Resident status documented with the notary/buyer in a property sale
Deadlines for Modelo 210 (4 months) and Modelo 211 (1 month) noted in the calendar
Checked whether Beckham Law or the Traspaso rule are relevant
Reporting obligation under Modelo 720 for foreign assets checked
A tax adviser with expertise in German-Spanish tax law engaged

Conclusion

Capital gains tax in Spain follows its own logic with the Ahorro tariff: progressive for residents between 19 and 28 percent, a flat 19 percent for non-residents, with special rules for those eligible under the Beckham Law and the practical Traspaso rule for fund investors. Anyone receiving German dividends should not forget the DTA offsetting, and anyone selling a property must keep an eye on the deadlines for Modelo 210 and 211. Given the progressive scale up to 28 percent, early, individual tax planning with an adviser specialising in German-Spanish law is all the more worthwhile.

Official sources

Ley 27/2014, de 27 de noviembre, del Impuesto sobre Sociedades (LIS), Art. 21 – https://www.boe.es/buscar/act.php?id=BOE-A-2014-12328#a21
Agencia Estatal de Administración Tributaria (AEAT) – the authority responsible for IRPF, Modelo 100, Modelo 210 and Modelo 211
Ley del Impuesto sobre la Renta de las Personas Físicas (IRPF) – the legal basis of the Renta del Ahorro