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Practical Heritage Manual 2022.

Determination of the liquidable base: reduction by exempt minimum

Regulations: Art. 28 Wealth Tax Law

Liquidable base (net assets subject to tax)

The taxable base is the difference between the amount of the taxable base (net assets) and the amount that should be applied as the exempt minimum.

Reduction due to exempt minimum

The following situations must be differentiated:

  1. For taxpayers due to personal obligation residing in any Autonomous Community
  2. For non-resident taxpayers who pay taxes due to a personal obligation to contribute and for taxpayers subject to a real obligation to contribute