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Wealth Tax in Spain FAQs

Wealth Tax in Spain: Your Questions Answered

Navigating your Spanish tax obligations can be complex, but our comprehensive guide simplifies everything. Discover if you qualify, learn how allowances apply to your global assets, and ensure full compliance with the latest regional regulations before deadlines approach.
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Frequently Asked Questions

Find clear and concise answers to the most common inquiries regarding your fiscal responsibilities. From understanding specific filing criteria to optimizing your deductions, we provide the essential insights you need to manage your Spanish property and wealth taxes with confidence.

What does the service cost?

Our fee is 148 € + VAT. This includes the full calculation, regional comparison, preparation and filing of your Spanish Wealth Tax return. We will advice you if you have doubts about what assets should be included or not.

Yes. Non-residents must file the Wealth Tax if their Spanish-located assets exceed the applicable exemption (normally 700,000 € net). Only assets situated in Spain are included for non-residents. This is not to be confused with the Non-Resident tax which applies to all owners of a Spanish property who are non-residents with NO MINIMUM LIMIT.

Thresholds and allowances depend on the autonomous community:

  • Madrid, Andalucía, Cantabria, Extremadura: regional Wealth Tax is effectively bonused (0 % for residents), but filing may still be required.
  • Cataluña: allowance approx. 500,000 € per person.
  • Comunidad Valenciana: allowance around 1,000,000 € per person (recent changes).
  • Baleares: allowance around 3,000,000 € per person.
  • Most other regions: standard national rules: 700,000 € allowance + up to 300,000 € main-home allowance.
    We check your specific region automatically.

This is a separate “solidarity tax” applied at the national level to very high-net-worth individuals. It normally applies when net assets exceed ~3 million €. It works alongside Wealth Tax and often affects residents in regions with 0 % Wealth Tax (e.g., Madrid or Andalucía).

Yes. You must still file Wealth Tax. The large fortunes tax is calculated afterwards to see if an additional payment is required.

Balances and values as of 31 December: Spanish property details, land registry values, bank balances, portfolios and investment statements, plus mortgage or loan balances.

Wealth Tax is filed at the same time as the Spanish annual income tax (Renta).

This is usually between April and June each year, depending on the official calendar.

If you’re subject to the large fortunes tax, it is filed in the same campaign period.

Modelo 720 is a separate reporting form for residents with foreign assets. If thresholds are met, you may need both filings. We advise you individually.

 Yes. Wealth Tax is filed individually, so each person submits their own return.

 Once we receive your data, most Wealth Tax filings are completed within a few days.

 You receive confirmation of filing. If tax is due, we help you set up direct payment through the Agencia Tributaria.

 We can file late returns and minimise penalties where possible.

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