Transfer of Wealth Tax to Autonomous Communities
Regulations: Art.2.2. Wealth Tax Law
The Wealth Tax is a tax whose performance is transferred in its entirety to the Autonomous Communities, in the terms established in Organic Law 8/1980, of September 22, on the Financing of the Autonomous Communities ( LOFCA ), last modified by Organic Law 3/2009, of December 18 ( BOE of December 19) , and in Law 22/2009, of December 18, which regulates the financing system of the Autonomous Communities of the common regime and Cities with Statute of Autonomy and modifies certain tax regulations ( BOE of December 19).
As a consequence of the transfer, the Autonomous Communities may assume regulatory powers over the exempt minimum, tax rate and deductions and bonuses from the quota.
The deductions and bonuses approved by the Autonomous Communities will be, in any case, compatible with those established in the state regulations regulating the Tax and may not imply a modification of them. These regional deductions or bonuses are applied after those regulated by State regulations.
If the Autonomous Communities do not use their regulatory powers over this Tax, failing that, the State regulations will apply.
On the other hand, it must be taken into account that Law 41/2003, of November 18, on the Property Protection of Persons with Disabilities and the modification of the Civil Code, the Civil Procedure Law and the Tax Regulations establishes, in its second Additional Provision, that the Autonomous Communities may declare the exemption from the Wealth Tax of the assets and rights that make up the protected assets of people with disabilities.