9. Art objects and antiques

Regulations: Art. 19 Wealth Tax Law

For the purposes of the Wealth Tax, the following definitions apply:

Art objects: paintings, sculptures, drawings, engravings, lithographs or other similar works, provided that in all cases they are original works.

Antiques: movable, useful or ornamental property, excluding works of art, that are more than one hundred years old and whose fundamental characteristics have not been altered by modifications or repairs carried out during the last one hundred years.

The valuation of these assets will be carried out according to their market value on the date of accrual of the tax (December 31).

Note: Works of art and antiques that are considered exempt from tax should not be included in the declaration. See in this regard the list of exempt works of art and antiques in the section dedicated to exemptions in this Chapter.