I invoice clients in the US, the UK and across the EU from Tarragona. This is what I wish I had found on one page when I started: what each route costs, what goes on the invoice and what to watch with the Spanish tax office.
What getting paid costs, by client country
A 5,000 invoice in the client's currency, paid into a euro account in Spain, at published rates:
| Client in | Cheapest transfer | Stripe | PayPal |
|---|---|---|---|
| United States | Wise Business: −$14.50 | −$254.60 | −$387.50 |
| United Kingdom | Wise Business: −£16.50 | −£222.74 | −£353.55 |
| Germany | Wise Business: €0.00 | −€75.25 | −€145.35 |
- Card fee
- Cross-border
- Conversion
- Payout
A transfer to an account with local bank details always wins, and from the EU in euros it costs nothing. More on that in card or bank transfer.
VAT on your invoices abroad
- A business in another EU country: no VAT, with "Inversión del sujeto pasivo" (reverse charge) and the client's VAT number checked in VIES. You need to be in the intra-EU operators register (ROI), which you request with form 036 or 037, and report these sales on form 349.
- A business outside the EU (the US, the UK, Canada…): no VAT, as a supply not subject to Spanish VAT under the place-of-supply rules (article 69 of the VAT law). It still goes on your form 303, in the section for non-subject supplies.
- Consumers: different rules. Digital services to EU consumers are taxed in their country, usually through the One-Stop Shop (OSS).
The invoice step by step, with an example, is in how to invoice a client abroad.
Income is booked in euros, at the day's rate
Even if you are paid in dollars or pounds, the income is recorded in euros at the exchange rate of the transaction date. If you keep the balance in dollars and convert weeks later, the difference between that rate and the one you get is an exchange difference, positive or negative, which is also part of your business result.
The fees Stripe, PayPal, Wise or your bank charge you are a business expense. Keep the statements or the fee invoices they issue: no receipt, no expense.
Accounts abroad and form 720
A Wise or Revolut account with a non-Spanish IBAN counts as an account abroad for tax purposes. Form 720, the information return on assets held abroad, is only required if the combined balance of your accounts outside Spain exceeds €50,000 on 31 December or as the average of the last quarter. Below that there is nothing to file; above it, talk to your accountant, because the threshold is applied per type of asset.
One more useful detail: companies and public bodies in the SEPA area may not refuse a European IBAN for not being Spanish. If a client or supplier objects to a Belgian or Lithuanian IBAN, the SEPA rules are on your side.
Spanish banks and SWIFT transfers
Euro transfers from the SEPA area arrive like a domestic one. Transfers from outside, in dollars or pounds over SWIFT, usually carry a receiving fee at Spanish banks, plus the conversion margin. Before giving a US client your Spanish IBAN, check your bank's tariff for incoming non-SEPA transfers, or give them US local details instead. I explain why in SWIFT transfer fees.
My checklist for every new client abroad
- Business or consumer, inside the EU or outside? That decides the VAT line.
- For a US client, I send a signed W-8BEN before the first invoice.
- On the invoice, local bank details for the client's country as the main method.
- I invoice in their currency if they prefer it and convert when it suits me, not on arrival.
- I keep the receipt for every fee for the books.
This is my experience and the general rules as of 13 October 2026; it is not tax advice. Every case has its details, so confirm with your accountant.
Every figure in this guide is calculated from the providers' public pricing pages, with the same function as the calculator. See the methodology for what the model includes and leaves out.