Spanish residents and non-residents property owners are liable to Wealth Tax (Impuesto sobre el Patrimonio).

Wealth tax is a direct tax levied on your assets and property located in Spain as at 31st December of every year (in arrears).

Spanish non-resident property owners are always taxed on their assets located in Spain (car, houses, bank accounts etc…)

Tax Rates are progressive depending on type of property and property tax value, and tax rates are applied according to the Spanish law applicable; national or regional law.

GM Legal Experts accountancy department will manage the registration and payment of the Wealth Tax on your behalf, providing you accurate information about any taxation issue.

Should you require further information, please do not hesitate to contact us.