Spain Capital Gains Tax Calculator (Base del Ahorro, 2025)

Spain taxes capital gains, dividends, and interest income together under a single national scale called the "base imponible del ahorro" (savings income tax base) -- distinct from the general IRPF scale that applies to salary and business income, and, importantly, uniform across the whole country. Unlike general income tax, which has both a state and regional component that varies by where you live, savings income is taxed at the same rates everywhere in Spain, whether you're in Madrid or Andalusia.

The scale is progressive, with the top rate rising to 30% for savings income above €300,000 following a 2024 law change (Ley 7/2024) that took effect for the 2025 tax year. This calculator applies the full scale to your combined capital gains and investment income, and models Spain's loss-offset rules: capital losses offset gains directly first, and any remaining loss can additionally offset up to 25% of your net dividend and interest income, with anything left over carried forward for up to four years.

1. Offset losses against gains first. Capital losses reduce capital gains directly, dollar for dollar, down to a floor of zero.

$$\text{Gains After Offset} = \max(0, \text{Capital Gains} - \text{Capital Losses})$$

1. Remaining loss offsets up to 25% of investment income. Any loss left over after fully offsetting gains can additionally reduce dividend and interest income, but only up to 25% of that income.

$$\text{Max Investment Offset} = \text{Investment Income} \times 25\%$$

1. Taxable savings income. The sum of gains-after-offset and investment-income-after-offset.
2. Apply the progressive savings scale. Spain's national base del ahorro brackets (2025, unchanged for 2026): 19% up to €6,000, 21% from €6,000 to €50,000, 23% from €50,000 to €200,000, 27% from €200,000 to €300,000, and 30% above €300,000.
3. Carry forward. Any loss not absorbed by gains or the 25% investment-income offset carries forward for use in future years (up to 4 years under current rules).

Using the calculator's default inputs (€15,000 gains, €3,000 dividends/interest, no losses):

1. No losses to offset, so gains after offset remain €15,000.
2. Taxable savings income: 15,000 + 3,000 = €18,000.
3. Applying the scale: first €6,000 × 19% = €1,140; remaining €12,000 × 21% = €2,520.
4. Total tax due: 1,140 + 2,520 = €3,660, an effective rate of about 20.3% on the full €18,000.

### The Same Income, With €8,000 of Losses

1. Gains after offset: max(0, 15,000 − 8,000) = €7,000.
2. Taxable savings income: 7,000 + 3,000 = €10,000.
3. Tax due drops meaningfully compared to the no-loss scenario, since the taxable base shrinks by the full €8,000 offset.

### A Large Gain Reaching the Top Brackets

€250,000 of gains plus €10,000 of investment income reaches the 27% marginal bracket (the €200,000-€300,000 tier), since combined taxable savings income of €260,000 falls within that band.

• The scale is national and uniform -- unlike general IRPF, there is no regional variation in savings income tax rates, so this calculator applies correctly regardless of which Comunidad Autónoma you live in.
• The €1,500/year dividend exemption no longer exists -- it was eliminated in Spain's 2015 IRPF reform, and all dividend income (subject to the loss-offset rules modeled here) is taxable from the first euro.
• Primary-residence capital gains exemptions (e.g. reinvestment in a new primary home, or the over-65 exemption) are not modeled -- this calculator assumes the gain is fully taxable investment-type income.
• Foreign tax credits for capital gains or investment income already taxed abroad under a double-taxation treaty are not modeled.
• Non-resident taxation, which follows different rules (a flat rate rather than this progressive scale for most non-residents), is out of scope.
• Losses older than 4 years cannot be carried forward under current rules, and this calculator does not track a multi-year carryforward history -- it only computes the current year's offset and reports what would need to carry forward.

• Forgetting that losses offset gains before touching investment income. The order matters: Spain's rules require losses to first reduce capital gains fully before any remainder can touch dividend/interest income, and even then only up to a 25% cap.
• Assuming the same rates apply regardless of region. This is one of the few areas of Spanish personal taxation where the same scale genuinely applies everywhere -- don't confuse it with general IRPF, which does vary by Comunidad Autónoma.
• Believing dividends have a small exemption. Many people still recall the old €1,500/year dividend exemption, which was removed in 2015 -- all dividend income is now taxable from the first euro (subject to the same scale and loss-offset rules as gains).
• Missing the 25% cap on offsetting investment income with leftover losses. A large loss can't wipe out all your dividend/interest income in one year -- only a quarter of it, with the rest carried forward.
• Not tracking carried-forward losses year to year. Losses that aren't fully used this year need to be tracked and applied in future years, within the 4-year window, or they're lost.

• Ley 7/2024, de 20 de diciembre, raising the top savings-income bracket from 28% to 30% above €300,000, effective tax year 2025.
• Spain's base imponible del ahorro progressive bracket structure (19%/21%/23%/27%/30%), confirmed current for 2025-2026.
• Ley 26/2014, establishing the phased-in 25% cap on offsetting capital losses against net investment income (well-established, prior-knowledge figure).
• General knowledge of the 2015 IRPF reform's elimination of the historical €1,500/year dividend exemption.