Spanish Wealth Tax return

Our Spanish Wealth Tax service helps you check whether you must file a return and what you may owe. At Pérez Parras, lawyers and economists review your assets, tax residence and reliefs. We advise clients in Málaga, Nerja and across Spain, in English and Spanish.

When must you file a Spanish Wealth Tax return?

You must file if tax remains payable after the relevant deductions and rebates. A return is also required when the value of your assets and rights exceeds €2 million, even if no tax is due. The valuation follows the tax rules. This filing threshold is different from the tax-free allowance.

The tax applies to individuals and looks at wealth held on 31 December. Companies do not pay it themselves. However, an individual’s shares in a company may need to be declared.

Spanish Wealth Tax in Andalusia

Do not assume that living in Andalusia means you never pay this tax. While the solidarity tax on large fortunes remains in force, a transitional system replaces the general 100% rebate. The applicable rebate depends on a comparison of the two tax calculations, including the relevant limits.

Our team checks which regional rules apply and coordinates both taxes. See the Tax Agency guidance on the Andalusian transitional rebate. A zero payment does not always remove the duty to file.

Allowances and assets that need a separate review

The general state allowance for Spanish Wealth Tax is €700,000, subject to the applicable regional rules. In Andalusia, qualifying disability allowances are €1.25 million or €1.5 million, depending on the recognised degree. These allowances do not replace the separate €2 million filing test.

A qualifying main home has an exemption of up to €300,000. Business assets and family company shares may also qualify for relief, but only if the requirements are met. We check ownership, valuation, debts and the evidence for each claim.

Residents, non-residents and the Beckham Law

Ordinary tax residents generally face tax on worldwide net wealth. Non-residents are generally assessed on assets and rights located, exercisable or enforceable in Spain. Certain unlisted company shares also fall within scope where Spanish property makes up at least 50% of the assets, directly or indirectly.

People who validly opt for the Beckham Law special tax regime are subject to Spanish Wealth Tax on a real-obligation basis. They remain Spanish tax residents. The regime does not grant a blanket exemption from wealth taxes.

For complex structures, read our guide to foreign trusts and the Beckham Law. We also coordinate your international tax and residence review, Non-Resident Income Tax and any separate Form 720 obligations.

Prepare your Spanish Wealth Tax review

Send us an overview of your property, investments, company shares and debts. Include year-end statements, prior returns and any evidence of your tax residence or special regime. If you have moved abroad, we can also assess the option to remain taxed on worldwide wealth and any foreign tax relief.

Our professionals qualified in Law and Economics explain the documents needed, the scope of the work and the fees. Request a tailored wealth tax review before filing or planning your move.

Legal references: Law 19/1991 of 6 June; Andalusian Law 5/2021 of 20 October; and Article 93 of Law 35/2006 of 28 November.