Option to pay tax in relation to personal liability as part of Wealth Tax
When a resident on Spanish territory moves his or her residence to another country he or she may opt to continue paying tax by personal obligation in Spain (for its world heritage). The option must be exercised by filing the declaration for personal obligation in the first financial year when the person has ceased to be a resident on Spanish territory.
In general, the exempt minimum of 700,000 euros will be applicable in these cases and the applicable tax scale will be the state tax scale.
The previous option is compatible with the speciality provided for non-resident taxpayers residing in other European Union member states or in the European Economic Space, who are entitled (this is another option) to apply the regulations of the Autonomous Community in which the largest amount of their assets and rights subject to this tax are located, because said assets are located or rights can be exercised or obligations must be met on Spanish territory.
If you exercise this second option, you 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.