Taxpayers residing in a Member State of the European Union or the European Economic Area, option in relation to Wealth Tax
As of July 11, 2021, all non-resident taxpayers will have the right to the application of their own regulations approved by the Autonomous Community where they reside the greater value of the assets and rights of which they are owners and for which the tax is required, because they are located, can be exercised or must be fulfilled in Spanish territory.
Previously, and since 1 January 2015, non-resident taxpayers who are resident in a Member State of the European Union or the European Economic Area will be entitled (this is an option) to the application of the specific regulations approved by the Autonomous Community where the greater value of the assets and rights they own and for which tax is required, because they are located, can be exercised or must be fulfilled in Spanish territory.
If they exercise this option, they must apply all the tax regulations approved by said Community. The Autonomous Communities can assume regulatory powers over the exempt minimum, tax scale and deductions and bonuses of the quota, the latter two being compatible with those established in state regulations (you can consult the Autonomous Communities that have assumed regulatory powers in the Manual Wealth Tax Practice corresponding to each financial year available on the Tax Agency website).
This option is reflected in the Wealth Tax return.