Spanish Wealth Tax (Patrimonio)

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The Spanish wealth tax, known as patrimonio, might catch you buy surprise. It has been reintroduced during Spain’s financial crisis, but with a much higher tax-free allowance of €700,000 per person that also applies to non-residents.

The information for this article was provided by Blevins Franks, an international tax advisory service, and updated by Raymundo Larraín Nesbitt, a lawyer qualified to practise in both Spain and the UK. This information is provided to help you do your background research, but not as a substitute for qualified legal advice.

Spanish Wealth Tax History

1977: Introduced as a temporary tax, still going strong more than thirty years later.
2008: Suspended (set to zero) as of 01/01/2008
2011: Restored for tax year 2011 & 2012 (with important changes to the taxable base)
2013: Extended for the year 2013 & 2014

Never believe claims that a new tax is just a temporary measure!

For the latest news on the Spanish wealth tax check the news & articles section on taxes.