Introduction

The Wealth Tax was established by Law 19/1991, of June 6, and was materially payable until January 1, 2008, date from which Law 4/2008, of December 23, by which the Wealth Tax levy is abolished, the monthly refund system for the Value Added Tax is generalized and other modifications are introduced in the tax regulations ( BOE of 25), eliminated the obligation to contribute for it, through the formula of establishing a state bonus of 100 percent on its full quota and repealing the formal obligations related to the self-assessment of the tax, the presentation of the declaration, and, where appropriate, the payment of tax debt.

However, the effects of the economic crisis made it necessary, through Royal Decree-Law 13/2011, of September 16 ( BOE of 17), its recovery with two important novelties:

• Its reestablishment is temporary and, therefore, the aforementioned Royal Decree-Law 13/2011 initially contemplated it only for the years 2011 and 2012. However, its application has been extended since then for subsequent years. For 2020 by Royal Decree-Law 18/2019, of December 27, which adopts certain measures in tax, cadastral and social security matters (BOE of 28).
• its extraordinary nature is reinforced aimed at ensuring that only taxpayers with a special economic capacity contribute, for which the limit of the habitual residence exemption was raised up to an amount maximum of 300,000 euros and the exempt minimum has been set at 700,000 euros , although it must be remembered that the Autonomous Communities have extensive regulatory powers on this last point for their residents and some have modified the amount of the exempt minimum.