Example: Calculation of the amount of the full fee

Don LGC resident in the Autonomous Community of Galicia presents the following data in his Wealth Tax declaration corresponding to the 2021 financial year:

• Liquidable base: 356,900 euros.

• Exempt goods and rights, except to determine the applicable tax rate: 68,000 euros.

Determine the amount of the full fee. 

Solution

1. Determination of the basis for the application of the tax scale:

   This magnitude is the result of adding the liquidable base and the net value of the exempt assets and rights, except to determine the type of tax 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 share (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 fee: 356,900 x 0.30% = 1,070.70 euros.