Modification in the Wealth Tax

Modification in the Wealth Tax

Modification to the Wealth Tax due to Law 11/2021 on the fight against tax fraud.
On July 10, Law 11/2021, of July 9, on measures to prevent and combat tax fraud, was published in the BOE, which contemplates, among other points, the modification of the fourth additional provision of Law 19/ 1991, of June 6, on the Wealth Tax, which allows non-resident taxpayers, starting in 2021, to apply the regulations approved by the Autonomous Community where the greatest value of the assets and rights of which they are owners resides and for which the tax is required, because they are located, can be exercised or must be fulfilled in Spanish territory.

In this way, discrimination is eliminated in the tax treatment between residents in a Member State of the European Union or the European Economic Area and residents of third states, which prior to the aforementioned modification had to apply state regulations regarding Wealth Tax. .

Tax Department
Laura Canada

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