Overview of Wealth Tax In Spain

Spanish Wealth Tax was introduced as a temporary tax in 1977 and suspended in 2008. It was then reintroduced, supposedly on a temporary basis, from 2012 onwards as an emergency economic measure due to the financial crisis. It has ultimately been extended until the present day and is in force in all the 17 autonomous regions of Spain. It should be noted that Spanish Wealth Tax is a state tax: however, the 17 autonomous regions are authorised to set their own tax rates, reductions, and allowances.

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