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2021 Wealth Tax practical guide.

For taxpayers due to personal obligation resident in an Autonomous Community

Act 22/2009, of 18 December, regulating the system of financing of the Autonomous Communities under the common system and Cities with the Statute of Autonomy and certain tax rules are modified (Official State Gazette of 19), as provided in Article 47 of the Spanish Communities the Autonomous Communities may assume, among other regulatory powers, the powers relating to determining the tax-free threshold.

Consequently, the taxable amount will be reduced, exclusively in the event of a personal obligation to contribute, in the amount approved by the Autonomous Community as an exempt tax-free threshold.

If the Autonomous Community has not regulated the tax-free threshold, the taxable amount will be reduced by 700,000 euros, amount established for these purposes in article 28 of the Wealth Tax Act 19/1991 of 6 June.

In accordance with the above, the amount of the tax-free threshold applicable in 2021 by taxpayers of Wealth Tax for personal obligation is, in general, 700,000 euros, except in the following Autonomous Communities:

  • Aragón: The amount of the tax-free threshold is set at 400,000 euros.

    See article 150-2 of the revised text of the provisions of the Autonomous Community of Aragon on taxes assigned approved by Legislative Decree 1/2005 of 26 September, of the Government of Aragón.

  • Catalonia: The amount of the tax-free threshold is set at 500,000 euros.

    See article 2 of Act 31/2002, of 30 December, on tax and administrative measures.

  • Extremadura:

    See article 14 of the revised text of the legal provisions of the Autonomous Community of Extremadura with regard to taxes transferred by the State, approved by Legislative Decree 1/2018 of 10 April.

    In general, the amount of the tax-free threshold is set at 500,000 euros.

    However, for taxpayers with disabilities, this minimum will be as follows:

    1. 600,000 Euros, if the degree of disability is equal to or greater than 33 and less than 50 per 100

    2. 700,000 Euros, if the degree of disability is equal to or greater than 50 and less than 65 per 100

    3. 800,000 Euros, if the degree of disability is equal to or greater than 65 per 100.

    To apply the corresponding tax-free threshold, the taxpayer must have a permanent disability, be legally incapacitated or have recognised any of the disability levels indicated. 

    For these purposes, the degree of disability or disability will be recognised or declared by the competent administrative or judicial body, in accordance with the applicable regulations. 

  • Community of Valencia 

    See article 8 of Act 13/1997, of 23 December, which regulates the autonomous range of Personal Income Tax and other taxes assigned.

    In general, the amount of the tax-free threshold is set at 500,000 euros. 

    However, for taxpayers with mental disability, with a degree of disability equal to or greater than 33 per 100, and for taxpayers with physical or sensory disability, with a degree of disability equal to or greater than 65%, the amount of the tax-free threshold is increased to 1,000,000 euros.