Wealth Tax

Taxation

This tax had been suppressed but was reinstated because of the severe recession. It applies to both residents and non-residents

 

If you own assets in Spain that exceed a net value of €700,000 you are liable for this tax. The first seven hundred thousand euros is a nil rate band and the excess is taxed following a sliding scale. If the property is mortgaged, this amount may be deducted as it is a liability. If you are liable for Wealth Tax, it is compulsory you appoint a fiscal representative in Spain.

 

Legal fees: From €350 (plus VAT)

 

We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form to book an appointment.

 

Related article

 

The following article was originally written in 2007 and ranks number one on Google.

 

Spanish Wealth Tax – 8th November 2011


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