Wealth Tax

This topic contains 2 replies, has 2 voices, and was last updated by  Ratty55 2 years, 2 months ago.

  • Author
  • #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?

The forum ‘Property Questions & Answers’ is closed to new topics and replies.