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2021 Wealth Tax practical guide.

4. Household furnishings

Regulations: Art. 4.Cuatro Wealth Tax Act

Domestic furnishings are exempt, which is understood as such to be personal and household effects, household utensils and other movable property of the taxpayer's own use

Exceptions are:

  • Jewellery,

  • Suntuary-skin, cars,

  • Vehicles with two or three wheels with an engine capacity of 125 cubic centimeters or more,

  • Recreational or boat sports,

  • Aircraft, and

    See in this regard in the rules for the valuation of the goods and rights of Chapter 3 of this Manual the section "Vehicles, jewellery, suntuary skin, vessels and aircraft."

  • Art and antiquities.

    See the "Objects of Art and Antiquities" section of the rules for valuing the goods and rights of Chapter 3 of this Manual.