Gross and Net Income
|Net Income||Please enter salary|
Use the salary calculator above to quickly find out how much tax you will need to pay on your income. Simply enter your annual or monthly gross salary to get a breakdown of your taxes and your take-home pay.
- Gross Income
- is the sum of all your earnings before any taxes have been deducted, minus any exemptions.
- Net Income
- is the money you take home after all taxes and contributions have been deducted from your gross salary.
|Social Security Contributions|
|Tax due||Please enter salary|
- Tax due
- is the sum of all taxes and contributions that will be deducted from your gross salary.
The deductions used in the above tax calculator assume you are not married and you have no dependants.
Taxation in Spain
- Income Tax
- is a progressive tax and it ranges from 19% to 45%. The standard personal allowance is 5,550 EUR for individuals under 65 years old with no dependents. The employer withholds the emloyee's income tax and transfers the payment to the tax authorities on a monthly basis. The personal income tax is also called Impuesto de Renta sobre las Personas Fisicas or IRPF. The rates used in the above calculator apply only to the Community of Madrid. The income taxes are higher for the Andalusia and the Catalonia communities.
- Social Security Contributions
- is a tax payed by both the employee and the employer. The standard rate for the employee is 6.35% and the employer pays 29.90% of an employee's salary. The maximum tax payed by an employee is 4,070 EUR and the minimum is 1,050 EUR.
The information presented here is based on the fiscal regulations in Spain in 2019. Visit www.seg-social.es for more details.
Cost of living in Madrid
The median gross income in Madrid is 2,791 EUR per month. According to the results of our survey, with this salary a single person with no dependants is likely to:
- afford living in a one bedroom apartment
- have a standard lifestyle, affording to go out a few times per week
To find out more, including a comparison between Madrid and Barcelona, check out our dedicated Cost of Living page.View more
Financial Facts about Spain
The average monthly net salary in Spain (ES) is around 1 390 EUR, with a minimum income of 764 EUR per month. This places Spain on the 20th place in the International Labour Organisation statistics for 2012, after United Kingdom, but before Luxembourg.
The Spanish system for direct taxation of individuals is progressive, with higher rates being applied to higher income levels. Spain follows a pay-as-you-earn (PAYE) system tax with monthly withholdings. The income tax and the social-security contributions are deducted by the employers on behalf of the employees. In Spanish, the personal income tax is called Impuesto de Renta sobre las Personas Fisicas (IRPF).
Spain is the second most visited country in the world, after France. The tourism in Spain is a major contributor to the national economic life. Most visitors come from the United Kingdom, France and Germany. Spain also performs very well in many aspects regarding the well-being of its residents, having the fourth highest life expectancy of all the OECD countries.