Changes to the Spanish wealth tax.
The wealth tax is a direct tribute that taxes the manifestations of wealth of the taxpayers, deducting the debts, and that is assigned to the Autonomous Communities, despite being a State tribute.
It is regulated by Law 19/1991 and was abolished in 2008 but later, it was reactivated in 2011.
It has a scope of application throughout the Spanish territory with the specialties that may exist in the foral territories of the Basque Country and Navarra and what the different International Agreements provide.
Today we are going to analyze the possible changes that have occurred as a result of the United Kingdom's exit from the European Union, which entails the consideration of the United Kingdom as a third country for tax purposes.
We start from the basis of analysis of a taxpayer who is a Non-Resident Company, whose patrimony in the national territory consists of a home whose acquisition value in 2003 was € 1,400,000 (not including indirect taxes, VAT or property transfers) and also, rent the property.