Hi guys, I've arrived in Spain some 3 months ago, and upon receiving my first paycheque recently, I was shocked to see nearly 30% of my earnings going towards social security and other deductions.
I'm currently a contract employee and have been receiving a lot of contradictory info from a number of people on what is better - contract employment vs. autonomo status.
Some have told me that as an autonomo, you end up paying even more in taxes and deductions than as a contract employee (which I find hard to believe given that you already lose 30% of your income). However, others have told me that, at least during the first 2 years of employment in Spain, you pay significantly LESS as an autonomo than under a contract (in fact, only 10% in deductions as an autonomo).
I've been researching all of this online lately, and every website offers directly opposing advice... I'm completely confused by this point. So, could anyone offer any relatively straightforward insight into all this... what is more advantageous, from the tax standpoint - autonomo vs. contract employment, at least for someone in my circumstances (i.e. someone who arrived and started working in Spain only recently)?
thanks in advance for any insight and tips you can offer!