Can anyone shed any light on Wealth Tax liability?
In this weeks Costa Blanca News, on the letters to the editors page, someone wrote in to say, that if you are an Ex Pat who is Resident in Spain then you do not have to pay Wealth tax.
We have always had to pay,surely our Solicitor should have informed us if this is true?
Anything I have read always say's Residents & Non Residents are both liable.
Can anyone advise otherwise?

Hi BigD,

The difference is that residents pay WT on their worldwide assets, non-residents only pay on assets in Spain.

Regards,

John.

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But if you live here for more than 6 months of the year or you move here with the intention to reside then you are classed as a resident

There seems to be a lot of confusion regarding wealth tax and who pays and who doesn't.

Read an article taken directly from the Agencia Tributaria regarding taxes http://www.spaingestor.com/tax-in-spain.php which describes the situation in basic laymans terms.

Regards

David

Non residents pay "imputed income tax" on their property and also pay a wealth tax on that property.

A resident does not pay those taxes in the same way.

However a resident is liable to wealth tax but the allowance against it, particularly for the house, effectively means that you do not pay wealth tax on the house.

This may be where the confusion arises.