3. Deposits in a checking or savings account, in the demand or in the term, financial accounts and other types of account deposits
Regulations: Art. 12 Wealth Tax Act
The valuation of each of the deposits in the account will be carried out by the balance that they will generate at the date of accrual of the tax (31 December), unless the latter is lower than the average balance corresponding to the last quarter of the year, in which case the latter will be taken.
The calculation of this average balance shall not include:
Funds withdrawn for the acquisition of assets and rights that appear in the assets.
Funds withdrawn for the cancellation or reduction of debts.
- Income made in the last quarter from loans or credits. In these cases, the corresponding debt will not be deductible.
Note: In the event that several holders of the corresponding accounts are held, their securities will be allocated equally to each of them, unless another different share payment is justified between them.