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2018 Wealth Tax

4.3.6. Deduction for taxes paid abroad

In the case of a Personal Obligation to contribute, without prejudice to what is available in the International Treaties or Agreements, the fee for the purposes of the assets that are being sent and rights that may be exercised or that have been fulfilled outside Spain, the lesser of the following two will be deducted from this Tax:

  1. The effective amount of what is paid abroad for personal tax purposes that affects the equity elements included in the Tax.

  2. The result of applying the effective average tax rate, expressed with two decimal places, to the taxable base part taxed abroad.

    The result of multiplying the quotient obtained from dividing the total tax resulting from the application of the scale by the net tax base by 100 will be understood as an effective tax rate. The average effective tax rate will be expressed with two decimal places.

The Autonomous Community may establish deductions in this tax, which will be compatible with those established by the State, without them being able to make a change, and will be applied after the state. In 2019 only deductions were established in the Autonomous Community of Galicia.


For the program to carry out this calculation, the following information must be entered through a data capture window:

  • Cash amount paid abroad

  • Net value of the assets taxed abroad

    The net value is obtained by subtracting the deductible debts corresponding to the value of these assets, as well as the proportional part of those other debts that, being also deductible, are not linked to any equity element.

The deduction is calculated individually for each equity element located abroad. The programme allows up to three different elements.

  1. 4,3,6,1 Deductions for the Autonomous Community of Galicia