The Wealth Tax in Spain is an annual tax on the total net value of assets. It must be submitted individually: it cannot be submitted jointly with your partner or spouse. As a Spanish resident, it will apply to all worldwide assets.

 

If you are taxed under the Special Tax Expats Tax Regime (Beckham Law), the wealth tax will only apply to your Spanish assets and will not include overseas investments. This rule is important because it can considerably reduce your tax payment  or even make you exempt.

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The Wealth Tax is a percentage between  0,2% - 3,5%. This tax return must be filed from  April until the 30th of June for the previous tax year.

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Not everyone that have assets is obliged to file this form. There are significant tax allowances which may also change according to where you live and where the asset is held. As such, a thorough analysis of your specific situation is essential.