About Internago
Internago offers subsidiary management, HR and international payroll services combined with international payroll software and professional business advisory services.
The Kingdom of Spain is a member of the European Union and the Eurozone, the UN, NATO, the Organization of Ibero-American States (OEI) and the OECD, as well as being a permanent guest of the G20.
Its nominal GDP in 2021 was 1.450 trillion USD, which makes it the thirteenth largest economy in the world. Its Human Development Index is at 0.904, which is categorized as very high, with a global ranking of 25th.
Capital Madrid |
Currency Euro (EUR) |
Language spoken Spanish |
Population size (2020) 47,35 million |
Ease of doing business (world bank ranking) 30 |
Cost of living index(2021) 59,09 |
Payroll frequency Monthly |
VAT - standard rate 21% |
GDP - real growth rate(2020) -10,82% |
Date | Holiday Name |
1 January |
New Year’s Day |
6 January |
Epiphany |
28 Mars |
Maundy Thursday |
29 Mars |
Good Friday |
1 May |
Labor Day / May Day |
15 August |
Assumption of Mary |
12 October |
Fiesta Nacional de España |
1 November |
All Saints’ Day |
6 December |
Constitution Day |
25 December |
Christmas Day |
Minimum wage |
Spain’s minimum wages are based on industry sector and related Collective Bargaining Agreements. Overall, the Minimum Wage applied in Spain is 950 euro per month, or 13 300 euro per year, split over 14 instalments. |
Salary payouts |
Salary is paid out on a monthly basis, with double monthly payroll in July and December being mandatory for all employers. This should be detailed in the employee’s contract and relate to the relevant collective agreement. |
Learn how employment taxes and statutory fees affect your payroll and your employees’ paychecks in Spain.
Employer |
Corporate income tax rate : 25% |
Social Security : 23.60% |
|
Unemployment : 5.50% |
|
Salary Guarantee Fund : 0.20% |
|
Professional Training : 0.60% |
|
Total Employment cost : 29.90% |
Employee |
Social Security : 4.70% |
Unemployment (General) : 1.55% |
|
Professional Trainingre (WLZ) : 0.10% |
|
Total Employment cost : 6.45% |
Internago offers subsidiary management, HR and international payroll services combined with international payroll software and professional business advisory services.