Understanding rental taxation in Spain

If you're renting out your car through GoMore in Spain, it's important to know how this affects your taxes. Here is a guide on what you need to do to comply with local tax regulations:

1. Declaration of income

• From January 2023, EU regulations require GoMore to collect and communicate your tax details. To withdraw your earnings, you must add your tax information.

2. Declaring your rental income

• Do I need to declare my earnings?

Yes, the income you generate from renting your car through GoMore is considered taxable income. You must declare it in your annual tax return, whether you are an individual or self-employed.

3. Accessing your total rental income

• Where can I find my total rental income?

• Website: Click on your profile picture in the top right corner -> Movements and Payments -> Transactions -> Download Income.

• Mobile App: Tap on your profile picture in the top right corner -> Balance.

4. Tax deductions

• Currently, there are no tax deductions available for car rentals in Spain, but it is advisable to stay in contact with your tax advisor should regulations change.

5. Properly declaring your income

• For accurate reporting and compliance, consult your tax advisor or the nearest tax agency office to understand how to declare your earnings according to your personal situation.

6. Important dates

• Information sharing date: Starting January 1, 2024, all information regarding 2023 earnings will be shared.

• Deadline for updating tax information: You have until December 1, 2023, to complete your tax information.

7. Consequences of non-compliance

• Failure to provide the required information by the deadline may lead to GoMore suspending payment of your earnings and blocking your profile from receiving new bookings. This block will be lifted once you provide the necessary information as per the DAC7 regulation.

For more information or assistance, please contact GoMore's customer support.