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2018 Wealth Tax

4.3.4. Full quota limit

The full amount of the Wealth Tax, together with the Personal Income Tax contributions, may not exceed, for taxpayers subject to the tax due to personal obligation, 60 percent of the sum of the Personal Income Tax tax bases.

For these purposes:

  1. The part of the Wealth Tax that corresponds to assets that, due to their nature or destination, are not likely to produce the income taxed by the Personal Income Tax Law, will not be taken into account.

  2. The part of the tax base of the savings derived from capital gains and losses that corresponds to the positive balance of those obtained from the transfers of assets acquired or improvements made therein more than one year prior to the transfer will not be taken into account. date of transmission, nor the part of the full installments of the Personal Income Tax corresponding to said part of the tax base of the savings whose amount will be entered in box 32 of the Wealth tax.

    To determine this amount, the net balance of the capital gains and losses obtained in the year that derive from the transfer of assets acquired more than one year before the date of transfer must be calculated, first of all.

  3. The amount received and not included in the personal income tax return will be added to the savings tax base for the distribution of dividends and shares in profits obtained in years in which the special regime for holding companies has been applied (Section 6 a) of the twenty-second Transitional Provision of the Consolidated Text of the Corporate Tax Law approved by Royal Legislative Decree 4/2004, of March 5).

  4. In the event that the sum of both installments exceeds the previous limit, the Wealth Tax installment will be reduced until the indicated limit is reached, without the reduction exceeding 80 percent.