Example: Calculation of the amount of the full fee

Mr. LGC resident in the Autonomous Community of Galicia presents the following data in their Wealth Tax return for the 2020 financial year:

• Taxable base: 356,900 euros.
• Exempt assets and rights, except for determining the applicable tax rate: 68,000 euros.

Determine the amount of the full fee. 

Solution

1. Determining the basis for applying the tax scale:

   This amount is the result of adding the taxable base and the net value of the exempt assets and rights, except to determine the tax rate applicable to the rest of the assets. That is, 356,900 + 68,000 = 424,900 euros.

2. Application of the tax scale to the base for the application of the tax scale:
   • Until: 334,252.88: 835.63
   • Other: 90,647.12 at 0.50%: 453.23
   • Resulting rate (835.63 + 453.23) = 1,288.86

3. Determination of the average tax rate:

   TMG: (1,288.86÷ 424,900) x 100 = 0.30%

4. Obtaining the full quota

   Full share: 356,900 x 0.30% = 1,070.70 euros.