Wealth Tax

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    • #200164

      We purchased a property in Mallorca in March 2016.
      I have been reading a lot about Wealth Tax and
      am getting confused as to whether we need to pay it.
      We are non-resident, the Apartment is for our own use only and the purchase price was €230,000 and we own it
      outright. I have asked a local gestor and he doesn’t seem to think we do but then I have read articles and it seems to indicate we do.I have read that non- residents have an
      individual allowance of €700,000 but no allowance against property.
      Can you clarify for me please.
      Liz Ratcliffe

    • #200738

      I think you don’t need to pay wealth tax. However, you would still need to submit a tax form noting these values (and apartment) wherever you are domiciled for tax.

    • #200747

      Hi , thank you for your reply.
      Do you mean Impuesto sobre la Renta de No Residentes
      (IRNR) which you complete on model 210?

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