In 2008, the Zapatero Government eliminated the Wealth Tax, and it seemed that everything was going well until that same year, the real estate crisis began, and In 2011, the tax was established again, in principle, temporarily.<\/strong><\/p>\n This year, the Wealth Tax has been extended again, but the tax bonus will depend on each Autonomous Community. Based on the comparison prepared by the Registry of Tax Advisors, some Communities, like Madrid, have a bonus of 100%, compared to Arag\u00f3n and Extremadura, which pays the most.<\/p>\n Next, we are going to explain five keys so that you know the basic aspects of this tax.<\/strong><\/p>\n The wealth tax is regulated in Law 19\/1991, of June 6, on the Wealth Tax, which establishes that it is a direct tax of a personal nature that taxes the net assets of natural persons.<\/p>\n It is a direct tax because it is applied to the direct manifestation of economic capacity, such as the possession of assets. Another direct tax, for example, is the Personal Income Tax, which taxes what is earned.<\/p>\n Furthermore, it is a personal<\/strong> tax because it takes into account the personal and family circumstances of each taxpayer (age, health, family responsibilities, debts and expenses, among others).<\/p>\n There are two types of taxable persons, which are the following:<\/p>\n To determine habitual residence, the criteria of article 9 of the Personal Income Tax Law<\/strong> are taken into account, based on which it is understood that the taxpayer has his habitual residence in Spanish territory. When any of the following assumptions occur:<\/p>\n 1.- They remain in Spanish territory for more than 183 days during the calendar year. <\/strong><\/p>\n 2.- That the main nucleus or base of its activities or economic interests is located in Spain, directly or indirectly.<\/strong><\/p>\n As established in the definition of the Wealth Tax, the tax base of the tax is made up of the value of the net assets of the taxable person<\/strong>, that is, by the difference between:<\/p>\n Regarding the valuation of assets and rights, the Wealth Tax Law establishes a series of rules in Chapter IV.<\/strong> For example, for the valuation of real estate, whether rural or urban, the highest of the following values \u200b\u200bwill be considered: the cadastral value, the one verified by the Administration for other taxes or the acquisition price or value.<\/p>\n The Wealth Tax accrues on December 31 of each year. Therefore, the net assets the taxable person holds on the date above will be considered.<\/p>\n The income from the Wealth Tax is transferred to the Autonomous Communities<\/strong> so they can regulate the exempt minimum, the tax rate and the deductions or bonuses. If the Autonomous Communities do not establish regulations for the aspects above, state regulations will apply.<\/p>\n<\/div><\/div><\/div><\/div><\/div>Wealth tax: definition<\/h2>\n
Who is subject to Wealth Tax?<\/h2>\n
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What is the tax?<\/h2>\n
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When is the tax due?<\/h2>\n
What powers do the Autonomous Communities have regarding the Wealth Tax?<\/h2>\n