Check if you must declare Wealth Tax in Spain. In order to know whether you are one of those tax payers who must submit an Wealth Tax Return declaration by filling in form 714 you need to bear in mind:
- Gross value of all your wealth on 31st December
- Ownership and location of equity goods and rights. Be careful because all equity counts! Both those in Spanish territory and those abroad included in form 720.
Who must submit an Wealth Tax Declaration
Those with a wealth of less than 700,000€ and those whose 1st house is valued at less than 300,000€ are exempt from submitting the Form 714 in Spain.
Nevertheless, it is very important that you pay attention to the Autonomous Community in which you are submitting your Personal Income Tax Declaration. Most of the Autonomous Communities establish different limits to determine if you need to submit it via Form 714 or directly by applying 100% rebate and, therefore, not having to pay equity.
- Autonomous Community / Province
- Minimum exempt
- 1st home