3.2. Accrual

The Tax accrues on December 31 of each year and affects the assets owned by the taxable person on said date.

Consequently, there is no tax period per se for this tax. Thus, the death of a person on a day other than December 31 determines that the tax is not accrued in that year. The relict estate is taxed as part of the assets of the heirs or legatees, without in any case having to submit a Wealth Tax declaration for the deceased.