Spanish wealth tax

Spanish wealth tax is applicable to residents

If you are a permanent resident in Spain and have assets of at least EUR 500,000, it is best to check whether you are eligible for the wealth tax.

There is an exemption limit and it can differ per autonomous community. Generally, the exemption limit is 700,000 euros, from which you may deduct your own home up to a maximum of 300,000 euros. But in some communities, such as Catalonia, the exemption limit is 500,000 euros. There are 17 federal states in Spain so keep this in mind.

In order to determine that you have to file a tax return on your assets, you will have to attach a value to your assets, which is determined annually on 31/12/.... of the calendar year. So, for example, you will have to determine a value for investments (shares, funds, ...), but also other forms of investments including crypto coins. It is your responsibility to reflect that value correctly.

If the sum of your investments, real estate (minus own home) exceeds the exemption limit, you will have to submit a wealth tax return.