Spanish Wealth Tax (Patrimonio)

The Spanish wealth tax, known as patrimonio, might catch you by 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 in part by Blevins Franks, an international tax advisory service, with updates 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.

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. Laws and tax rates change over time, so this information may be out of date. Please consult a tax specialist or the tax authorities for the latest information. There are no guarantees that this information is correct and up-to-date, so you use this information at your own risk.

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.