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Generic Tax Name Capital tax - Wealth tax
Tax name in the national language Impuesto sobre el patrimonio
Tax name in English Wealth tax
Member State ES-Spain
Tax in force since 2011/09/18
If abolished, date on which the tax ceases to apply
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco

Social security contribution Employers
Legal base

Formerly called impuesto extraordinario sobre el patrimonio de las personas físicas.

Law No 19 of 6 June 1991 on wealth tax, applicable from 1 January 1992; Article 2 of Law No 22 of 29 December 1993; Central Government Finance Act 1995 (Law No 41 of 30 December 1994); Royal Decree No 2481 of 23 December 1994 regulating the exemption for business activities and interests in businesses, and Law No 22/2009, of 18 December 2009, on tax and administrative measures of the new financing system of the Autonomous Communities.

The Central Government Finance Act 1995 (Law No 41 of 30 December 1994) has been replaced by Law No 14 of 30 December 1996, in turn amended by the Central Government Finance Act 1998 (Law No 65 of 30 December 1997) and also by the Central Government Finance Act 1999 (Law No 49 of 30 December 1998).

Also the 1998 and 1999 laws on taxation, administrative and social measures (Law No 66 of 30 December 1997 and Law No 50 of 30 December 1998).

Wealth Tax has been restored on a temporary basis for years 2011 and 2012 by Royal Decree-Law nº 13, of 16 September 2011. Laws 16/2012 of 27 December; 22/2013, of 23 december, and 36/2014, of 26 December (Annual Budget Laws for 2013, 2014 and 2015, respectively) extended the application of the Wealth Tax for those tax years.

Who sets
The tax rate is set by

The tax base is set by

The reliefs are set by



Geographical Scope


The following natural persons:

  • liability ad personam: residents on Spanish territory, in respect of all assets and rights;
  • liability in rem: non-residents, in respect of assets situated in Spanish territory and rights which can be exercised therein.
Tax object and basis of assessment

The difference between the value of the assets and rights of the taxable persons and the value of their liabilities and obligations (net wealth).

Valuation is as at 31 December of each year.

Deductions, Allowances, Credits, Exemptions
  • A 100% tax allowance applies for resident and non-resident taxpayers who are not obliged to submit a tax return since January 2008. In other words, since 2008 the Wealth Tax has been suspended “sine die”, (not abolished). However, the tax has been restored for years 2011, 2012, 2013, 2014 and 2015.
  • Property forming part of the Spanish historical heritage.
  • Works of art and antiques worth less than a certain amount and under certain conditions.
  • Household furnishings.
  • Artists' own works, if not transferred to another person.
  • Securities whose yield is exempt under Article 13 of Law No 41 of 1991 on the income of non-residents and tax rules.
  • Consolidated rights of members of pension plans.
  • The habitual place of residence up to a maximum of € 300,000.00.

There is a basic tax-free allowance of € 700,000.00 available only to taxpayers with liability adpersonam.

The exemption for business activities introduced in 1994 applies to:

  • property and rights assigned to individual businesses and professional persons;
  • holdings in companies, whether or not listed on organised markets, where the taxable person owns at least 15 % of the company himself or 20 % along with his family;
  • the companies concerned are not operating under the tax transparency rules;
  • the taxable person plays an active part in the management of the company;
  • the taxable person obtains most of his taxable income from the company;
  • all of this is irrespective of whether the holding is common or not to the spouses.

Married couples:

  • The wealth tax is an individual tax paid by each person irrespective of marital status.
  • The wealth of married couples is imputed to the spouses in accordance with certain rules based on the property regime.
Rate(s) Structure

Rates are progressive, with eight bands; a minimum rate of 0.2 % applies up to € 167,129.45 and a maximum rate of 2.5 % above € 10,695,996.06.

Tax due date

Tax collector

Self-assessment: return to be filed annually. No possibility of paying in instalments.

Special features

Beneficiary: with effect from 1997, the autonomous communities (except for Ceuta and Melilla) not only administer and collect the tax but also have some legislative powers in this field. In 1999 the autonomous communities did not exercise these powers.

The autonomous communities of the Basque Country and Navarre have their own legislation for this tax.

There is a combined limit on liability under personal income tax and wealth tax, but it is not possible to pay less than 20 % of the theoretical tax due under wealth tax (minimum tax).

The only allowances against liability are for property situated in Ceuta and Melilla and for wealth taxes paid abroad.

Economic function

Environmental taxes

Tax revenue
ESA95 code d59aa

Annual tax revenue (millions)
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 784.00 EUR 0.07
2011 56.00 EUR 0.01
2010 110.00 EUR 0.01
2009 93.00 EUR 0.01
2008 2,416.00 EUR 0.22
2007 2,059.00 EUR 0.19
2006 1,667.00 EUR 0.17
2005 1,395.00 EUR 0.15
2004 1,227.00 EUR 0.14
2003 1,203.00 EUR 0.15
2002 1,171.00 EUR 0.16
2001 1,185.00 EUR 0.17
2000 1,200.00 EUR 0.19