Rentas del Ahorro

Rentas del ahorro ("savings income") is a category in the Spanish personal income tax (IRPF) that covers capital gains, dividends, and interest. These are taxed at progressive rates separate from general income:

• 19% on the first €6,000
• 21% on €6,000 – €50,000
• 23% on €50,000 – €200,000
• 27% on €200,000 – €300,000
• 28% on amounts above €300,000

Prediction markets as rentas del ahorro

If the Agencia Tributaria (Spanish tax agency) classifies prediction market gains as capital gains (ganancias patrimoniales), they would be taxed under the savings income rates. This is generally more favorable than the general income rates (renta general), which can reach 47%.

Loss offsetting

Capital losses within rentas del ahorro can offset capital gains. If net losses remain, up to 25% of the positive income within the savings base can be offset. Unused losses carry forward for 4 years.

Modelo 100

Prediction market gains are reported on the annual Modelo 100 (Declaración de la Renta). The filing period is typically April to June following the tax year.

Modelo 720: Foreign asset reporting

Spanish residents holding more than €50,000 in assets abroad must file Modelo 720 (Declaración sobre bienes y derechos situados en el extranjero). This includes prediction market platform balances. Penalties for non-filing have been reduced following a 2022 EU court ruling, but the reporting obligation remains.

How Spain compares to other Southern European countries

• Spain: 19–28% progressive savings rates — moderate
• Portugal: 28% flat rate (or progressive via englobamento) — slightly higher base rate
• Italy: 26% flat rate (imposta sostitutiva) — simpler, single rate

Spain's progressive structure benefits small traders (19% on first €6,000) but becomes less favorable for larger gains compared to Italy's flat 26%.

Frequently asked questions

Can I offset prediction market losses against my employment income in Spain?

No. Losses within rentas del ahorro can only offset gains within the same category. Up to 25% of positive savings income can be offset by excess losses. Remaining losses carry forward for 4 years.

Do autonomous communities (regions) add additional taxes on capital gains?

Rentas del ahorro is taxed at national rates only — autonomous communities do not levy additional capital gains taxes on savings income. This differs from the general income tax (renta general), where regional surcharges apply.