Taxation

Index Fund or ETF: Why the Fund Usually Wins in Spain (and the Condition Almost Nobody Checks)

September 8, 2026

If you’ve read anything about passive investing, you’ve probably come across this idea: an index fund and an ETF tracking the same index are, in practice, the same product with a different wrapper. Similar fees, same diversification, same “don’t try to beat the market” philosophy. And up to that point, it’s true.

What almost nobody spells out with the same detail is that, in Spain, they’re not taxed the same at all. One lets you move your money from one place to another without paying tax along the way. The other doesn’t. And the advantage of the first one is only real if a very specific condition is met, one that most people don’t even know exists, let alone check.

index funds ETF taxation investing IRPF fund transfers

How your investments are taxed in Spain: a practical IRPF guide

May 6, 2026

One of the questions that comes up most when someone starts investing is: and how do I declare this? The short answer is that the Spanish Tax Agency (Agencia Tributaria) wants its share of what you earn by investing. The long answer is that the system has its nuances, and knowing them can save you quite a bit of money.

This article explains in a practical way how the main investment products are taxed in Spain, without beating around the bush and without claiming to replace a tax adviser.

investing IRPF taxation investment funds capital gains savings

Deductible expenses for the self-employed under simplified direct assessment: the complete list (2026)

April 30, 2026

One of the advantages of being self-employed (autónomo) compared with an employee is that you can deduct the expenses necessary to carry out your activity before being taxed. That reduces the taxable base and, therefore, what you pay in IRPF (Spanish personal income tax).

But “expenses necessary for the activity” has a specific definition in tax law, and not everything that might seem deductible actually is. This guide gathers the most common deductible expenses under simplified direct assessment (estimación directa simplificada), with the nuances worth knowing.

self-employed deductible expenses IRPF direct assessment taxation

Input VAT vs Output VAT: the difference, with a worked example (Spain)

April 22, 2026

If you’ve just registered as an autónomo (self-employed worker), or you’ve only been one for a short while, there are two terms that come up constantly and that are worth understanding well from the start: IVA soportado (input VAT) and IVA repercutido (output VAT).

They’re not difficult concepts. They’re difficult to understand when they’re explained in technical language before they have any context. With a concrete example, they fall into place on their own.

self-employed VAT taxation basics