Heritage Declaration
The Heritage Declaration Tax in Spain is levied on the net worth of individuals, which is calculated as the value of the taxpayer´s assets after deducting all their liabilities, that is, their debts as of December 31 of each year. It is declared in the same period as the income tax return, between April and June of each fiscal year.
The Heritage Declaration Tax is a declaration of assets, not income. What is taxed is what you have, not what you have earned in the year.
Individuals resident in Spain and non-residents who own assets or rights located in Spanish territory are required to file the Heritage Declaration Tax.
Taxpayers whose value of assets and rights calculated according to the regulations of the same is greater than 2,000,000 euros will have to file the tax. The minimum exemption from this tax is set at 700,000 euros and the first 300,000 euros of the value of the habitual residence are not taxed either.
Tu gestoría y trámites (Your agency and procedures) are located in the center of the city of Valencia.
Contact us, we will be happy to help you at any time.
Tu Gestoría y Trámites
Collegiate nº 2313.
C./ Murillo 33 ground floor
46001 – Valencia
Phone 682.000.666
