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The Spanish resident and non resident property owner is liable for
a tax on capital assets called "patrimonio".
A Spanish resident has an exemption of 108.182 euros which is raised
to 150.253 euros when the asset is the principal residence. This
means that not husband and wife is exempt from 300.253 euros if
both their names are on the title deed. A resident must declare
all his worldwide assets including property, stocks, cars, yachts,
jewels, works of art. etc. The basis of the valuation is real market
value.
A
non residence need only declare his property and assets in Spain.
The
tax is declared and paid annually at the same time as the income
tax but on a separate form 714.
Wealth Tax rates
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