# taxes in Spain



## bahesson (Jul 31, 2013)

I will be moving to Spain from the U.S. in about 1 year. My concerns are Spanish taxes on my retirement and IRA's. Can anyone tell me how income from the U.S. may, or may not, be taxed in Spain? I don't want to pay taxes in both countries if possible.
Gracias
Barbara (64 years)


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## Bevdeforges (Nov 16, 2007)

There is a tax treaty between Spain and the US that should lay out which jurisdiction is supposed to tax what forms of retirement and other income. Start here: Spain - Tax Treaty Documents

The main purpose of these treaties is to avoid double taxation, though they don't usually explain much about exactly how to report the various forms of income on both tax declarations in order to properly deal with the tax treaty provisions. 
Cheers,
Bev


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## bahesson (Jul 31, 2013)

Thank you


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## BBCWatcher (Dec 28, 2012)

You should be quite OK enjoying the tax advantages of _traditional_ U.S. tax-advantaged retirement accounts -- 401(k)s and IRAs as notable examples. If you plan to retire in a country that respects the U.S. tax free treatment of (qualified) Roth 401(k)s and Roth IRAs then those would also be options. However, that'd be making a bet on the future which is a bit uncertain, so _in general_ I think I'd lean toward preferring the traditional 401(k)s and IRAs. (Or maybe mix it up, e.g. a traditional 401(k) at work and a Roth IRA outside work.) Traditional accounts mean you make contributions pre-tax then pay U.S. income tax when you make withdrawals. You're also required to make minimum withdrawals once you reach age 70 1/2.


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