Rise in the Savings Tax Rate to 30% in 2026: Who Is Affected

# Rise in the Savings Tax Rate to 30% in 2026: Who Is Affected

The increase in the savings tax rate to 30% in 2026 affects exclusively taxpayers whose taxable base of savings exceeds 300,000 euros. Below this threshold, the previous brackets remain unchanged. If your capital gains, dividends, or interest do not reach this amount, your tax bill remains the same as in 2025. If they exceed it, each additional euro is taxed at the highest marginal rate in the recent history of the savings base in Spain.

What Is the Savings Base and Which Rents It Includes

Before analyzing the impact of the increase in the savings tax rate to 30%, it is important to recall which incomes form part of this base. The taxable base of savings in the IRPF includes, according to the current legislation in 2026 (Ley 35/2006 of the IRPF, modified by the Budget Law applicable):

• Capital gains from movable assets: interest from accounts and deposits, bond coupons and obligations, dividends (excluding the exemption of the first 1,500 € annually, according to AEAT), life insurance-savings and PIAS at the time of redemption.
• Capital gains and losses derived from the transmission of assets: shares, investment funds, ETFs, sold real estate, cryptocurrencies, precious metals, participations in startups, etc.
• Capital gains from movable assets from the transfer of capital to third parties: loans between individuals, crowdlending, etc.

The following do not form part of the savings base: income from work, income from economic activities, or rental income of real estate (which is taxed in the general base).

The Savings Brackets in 2026: The Full Scale

The state scale of the savings base in 2026, according to the current legislation published in the BOE, is structured as follows (the rates include the state and autonomous rates, which in most communities replicate the state rate):

The 27% bracket between 200,000 € and 300,000 € was already introduced in previous years. The novelty of 2026 is the consolidation of 30% for the excess over 300,000 €, which makes Spain one of the countries in the EU with the highest taxation on capital income in the higher brackets (source: AEAT, current savings scale in 2026).

Important: the rates indicated are the total rates (state + autonomous). Some autonomous communities may approve slightly different scales. Consult the legislation of your community or the AEAT simulator to obtain the exact rate applicable to your case.

Who Is Actually Affected by the Increase to 30%

The practical impact of the increase in the savings tax rate to 30% is very concentrated in a specific taxpayer profile. For the new bracket to be relevant, the taxable base of savings must exceed 300,000 euros in a single fiscal year. This occurs mainly in these scenarios:

• Sale of a shareholding or business participation with a high capital gain (e.g., a founding shareholder selling their participation in a startup or SME).
• Transfer of a real estate property acquired decades ago with a significant capital gain.
• Redemption of a life insurance-savings or PIAS with a very high accumulated capital.
• Investors with diversified portfolios of funds or stocks who make large sales in a single year.
• Inheritance of financial assets where the heir sells the received assets and generates a high capital gain (although in this case, the Inheritance Tax must also be considered).

For the average investor with a portfolio between 50,000 € and 200,000 € generating annual income of 3,000 € to 10,000 €, the increase to 30% has no direct effect. Their taxation remains at 19% or 21%.

Practical Example 1: Sale of Participations with High Capital Gain

Imagine that in 2026 you sell your participation in a family company for 450,000 € and the acquisition value was 80,000 €. The capital gain is 370,000 €.

Applying the savings scale:

• First 6,000 € → 19% = 1,140 €
• From 6,000 € to 50,000 € (44,000 €) → 21% = 9,240 €
• From 50,000 € to 200,000 € (150,000 €) → 23% = 34,500 €
• From 200,000 € to 300,000 € (100,000 €) → 27% = 27,000 €
• From 300,000 € to 370,000 € (70,000 €) → 30% = 21,000 €

Total savings tax: 92,880 € on a capital gain of 370,000 €, which represents an effective rate of 25.1%.

Without the 30% bracket (if the maximum were 27%), the tax would have been 72,780 €. The difference due to the new bracket is 21,000 € additional. This is the concrete impact of the increase.

Practical Example 2: Investor with a Diversified Portfolio

Now consider an investor with a portfolio of investment funds who in 2026 makes sales and obtains a capital gain of 60,000 €, plus 8,000 € in dividends and interest. Their total savings base is 68,000 €.

• First 6,000 € → 19% = 1,140 €
• From 6,000 € to 50,000 € (44,000 €) → 21% = 9,240 €
• From 50,000 € to 68,000 € (18,000 €) → 23% = 4,140 €

Total tax: 14,520 € — effective rate of 21.4%. This investor is not affected at all by the increase to 30%, since their savings base does not reach the 300,000 € threshold.

Legal Strategies to Manage the Fiscal Impact

If you foresee that in 2026 you will generate a savings base close to or exceeding 300,000 €, there are legal tax planning strategies that it is advisable to analyze with a tax advisor:

• Postpone the sale to the next fiscal year: if the operation can be delayed to 2027, the gain is taxed in that year and can be distributed more favorably.
• Offset with capital losses: losses from other assets can reduce the savings base. Remember the two-month rule for repurchasing shares (already discussed in this blog).
• Split the operation across several fiscal years: in sales of participations or real estate, it is sometimes possible to structure the payment in installments, distributing the gain across several fiscal years (installment operations, Article 14.2.d of the IRPF Law).
• Contributions to pension plans: although taxed in the general base, they reduce the general taxable base and can free up fiscal capacity in other areas.
• Donations to non-profit entities: generate deductions in the tax liability that can partially mitigate the impact.

None of these strategies imply tax evasion. They are mechanisms explicitly provided for in Spanish legislation. Always consult a qualified tax advisor before making decisions based on tax planning.

How It Affects Non-Residents and Foreign Income

Non-residents taxable in Spain who obtain capital income from Spanish sources are taxed under the Non-Residents Income Tax (IRNR), not the IRPF. The rates of the IRNR are different and are not directly affected by the increase to 30% of the savings base of the IRPF.

For residents taxable in Spain with investments abroad (accounts in Trade Republic, Raisin, international brokers, etc.), the income obtained must be integrated into the savings base of the IRPF and taxed with the same scale. Retentions practiced in the source country by foreign countries may be deducted as a credit for double taxation, according to the conventions signed by Spain (source: AEAT, double taxation conventions).

Rise in the Savings Tax Rate to 30%: Impact on Specific Products

To clarify the scope of the measure, here is the effect on the main investment products:

• Investment funds and ETFs: capital gains on redemption or sale are taxed in the savings base. Only affects if the accumulated gain exceeds 300,000 € in the year.
• Shares and dividends: dividends are integrated into the savings base (excluding the first 1,500 € exemption, according to AEAT). Capital gains from the sale of shares, same.
• Pension plans: the redemption is taxed in the general base as income from work, not in the savings base. The increase to 30% does not directly affect them.
• Treasury bills and bonds: interest and the difference between purchase and sale price are taxed in the savings base.
• Cryptocurrencies: capital gains from sale or exchange are taxed in the savings base with the same scale.
• Real estate: the gain from the sale of a real estate property (not affected by economic activity) is taxed in the savings base.

When to Consult a Tax Advisor

The increase in the savings tax rate to 30% in 2026 is relevant for a taxpayer profile with significant assets or with one-time operations of large volume. If you find yourself in any of these situations, consulting a qualified tax advisor is essential:

• You plan to sell a real estate property, company, or shareholding with a capital gain exceeding 200,000 €.
• You have financial assets abroad and are unsure how to declare them.
• You plan to redeem a life insurance-savings or PIAS with a high accumulated capital.
• You are an heir of financial assets and plan to liquidate them in 2026.

You can use the AEAT IRPF simulator (available at agenciatributaria.gob.es) to make a preliminary estimate of your tax liability before the declaration.

Sources and Reference Legislation

• AEAT — Current IRPF savings scale in 2026: agenciatributaria.gob.es
• BOE — Ley 35/2006, of November 28, of the Income Tax on Individuals, and its subsequent modifications
• BOE — Budget Law for the 2026 State General Budget (modification of the savings scale)
• AEAT — International double taxation conventions signed by Spain
• CNMV — Information on investment products and their fiscal treatment: cnmv.es
• Bank of Spain — Statistics on savings and investment of Spanish households