General and savings income and which of yours goes where

Key rules

• General base: Work, business and rental income are taxed together in the general base.
• Savings base: Interest, dividends and capital gains go in the savings base, which has its own lower scale.
• Foreign income: Foreign interest, dividends and sale gains are classed in the savings base just like Spanish ones.
• Loss offsets: Offsets between the two bases are limited to 25% of the positive balance, with leftovers carried forward four years.

The short answer

Work, business and rental income go in the general base. Interest, dividends and capital gains go in the savings base, which has its own lower scale. This applies to Spanish tax residents, who are taxed on income from anywhere in the world.

What goes in the general base

• Salary and other employment income.
• Business and professional income, including self-employed work.
• Rental income from property you let out.
• Imputed income, which is income the tax rules treat as yours even though you received no cash.
• Some gains that are not investment sales, such as lottery prizes or unjustified gains.

What goes in the savings base

• Interest from bank accounts and similar products.
• Dividends and other income from investments.
• Gains and losses from selling assets such as shares, funds and real estate.

Foreign income

Where the money comes from does not change the base. Foreign interest, dividends and sale gains go in the savings base, just like Spanish ones. Foreign salary and foreign rent go in the general base.

How the savings base is taxed

In 2025 the savings base is taxed at 19% up to €6,000, 21% to €50,000, 23% to €200,000, 27% to €300,000 and 28% above. These figures combine the state and regional parts. The Basque Country and Navarra set their own scales, so ask the tax office there if you live in either.

Losses

Losses are first offset inside the same base. After that, limits apply across bases:

• A negative balance of investment income, such as interest and dividends, can offset up to 25% of the positive balance of capital gains and losses, and the other way round.
• A negative general-base amount can offset up to 25% of a positive savings-base balance.
• Anything left over carries forward for four years.

The questions below cover foreign income, capital gains and loss offsets in more detail.

Frequently asked questions

Is foreign interest or rent classed differently from Spanish income?

No, foreign income goes in the same base as Spanish income of the same kind if you are a Spanish tax resident. Foreign salary and rent go in the general base, while foreign interest, dividends and gains from selling assets go in the savings base. Spain taxes your worldwide income once you are resident.

Do all capital gains go in the savings base?

No, some gains go in the general base instead. Lottery prizes and unjustified gains are examples. Gains from selling assets such as shares, funds or property go in the savings base.

Can a loss in one base reduce tax on income in the other base?

Yes, but only within a limit of 25% of the positive balance. A negative general-base result can offset positive savings income up to 25% of that positive balance. Any excess carries forward for four years.

Can a loss on investments offset interest or dividends?

Yes, up to 25% of the positive balance, and the same works the other way round. Losses on interest and dividends can offset up to 25% of positive gains from sales, and the reverse applies too.