Luxury Tax

Wealth tax is levied on the net assets (worldwide property) of individuals, the totality of assets and rights of economic substance that they own, minus charges and encumbrances that reduce their value, as well as debts and personal obligations.
The obligation to file is usually for individuals permanently residing in Spain.

1   If the tax base of your property, determined in accordance with tax rules, totals more than 700,000 euros

2  When, without taking into account the above circumstance, the value of your assets or rights, determined in accordance with tax rules, exceeds EUR 2,000,000.

Necessary information:

– Property value: location, cadastral number and full address, as of December 31.
– Asset value and name as of December 31
– If there was a sale of real estate: details of the object of the transaction, date and amount of acquisition, as well as date and amount of sale
– State of accounts as of 12/31 – the amount, and the arithmetic average amount for the 4th quarter, if the amount turned out to be higher than the balance as of 12/31 – of every account in the world
– Approximately market valuation of vehicles: cars, motorcycles, boats, etc.
– Crypto ownership cost and name as of December 31

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