Payments in kind

Goods or products offered may be attractive, but bear in mind that: 

• It is not really a ‘gift’, but income subject to personal income tax (known as IRPF in Spain). 
• You should compare the value of the gift with the cash interest you would receive on the same amount of money deposited in an interest-bearing account.
• A number of conditions must be met in order to receive the gift item. Failure to comply with these conditions after having received the gift may result in a penalty charge.