# Example

Don JBA, single and resident in Toledo, presents the following tax data corresponding to his Personal Income Tax and Wealth Tax ( IP ) declarations in fiscal year 2022.

• General tax base of Personal Income Tax : 50,000
• General taxable base of Personal Income Tax : 48,000
• Minimum personal and family: 5,550
• Taxable and liquidated savings base for Personal Income Tax : 2,000
• Full general state and regional contribution of Personal Income Tax :12,407
• Full savings quota of Personal Income Tax : 380
• Wealth Tax Tax Base ( IP ): 8,000,000
• Full amount of Wealth Tax: 112,354.37

Determine the amount to be paid for the Wealth Tax corresponding to the year 2022, knowing that the part of the tax base of the savings derived from capital gains and losses that corresponds to the positive balance of those obtained from transfers of assets acquired with more than one year in advance of the date of the transfer amounts to 1,000 euros, and that the net value of the assets declared not capable of producing income in the Personal Income Tax amounts to 250,000 euros

Solution:

• Wealth Tax fee corresponding to unproductive assets: (250,000 x 112,354.37) ÷ 8,000,000 = 3,511.07

• Wealth Tax Fee susceptible to limitation (112,354.37 – 3,511.07) = 108,843.30

• Full general state and regional contribution of Personal Income Tax : 12,407

• Full state and regional share of personal income tax savings for the purposes of the limit (1):190

• Sum of full Personal Income Tax contributions (12,407 + 190) = 12,597

• Sum of full contributions of Personal Income Tax and IP (12,597 + 108,843.30) = 121,440.30

• Full quota limit Personal Income Tax and IP (60% s/ 51,000) = 30,600

• General tax base of Personal Income Tax : 50,000

• Savings tax base Personal Income Tax : 1,000 (2)

• Theoretical reduction to be made in the full Wealth Tax payment (121,440.30 – 30,600.00) = 90,840.30

• Maximum reduction limit of the full Equity quota: (80% s/112,354.37) = 89,883.50
• Fee to be paid Tax on Wealth (112,354.37 – 89,883.50) (3) = 22,470.87

Notes to the example:

(1) For the purposes of determining the full amount of personal income tax savings , the part corresponding to the positive balance of capital gains and losses obtained from the transfers of assets acquired with more money has not been taken into account. one year prior to the date of transmission. That is, (380 ÷ 2,000) x 1,000 = 190 euros.(Back)

(2) For the purposes of determining the tax base of Personal Income Tax savings , the part corresponding to the positive balance of capital gains and losses obtained from the transfers of assets acquired with more money has not been taken into account. one year prior to the date of transmission. That is, (1,000 ÷ 2,000) x 2,000 = 1,000 euros.(Back)

(3) The fee to be paid for the Wealth Tax coincides with the amount of the minimum fee (20% s/112,354.37 = 22,470.87 euros). By applying this minimum quota, a non-reducible excess of 956.80 euros is produced, which is the difference between the theoretical reduction (90,840.30) and the maximum reduction limit (89,883.50).(Back)