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V1142-14 24 April 2014 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · obligación real

Non-residents liable for Wealth Tax on shares in Spanish real estate companies

A non-resident inquired whether they must file Wealth Tax as holder of a Spanish company with real estate assets. The DGT confirms they are subject to real obligation and explains how to value their shares.

The question raised

Whether the non-resident natural person must file a Wealth Tax return for the 2013 and 2014 fiscal years and, if so, the method for valuing the real estate or the shares in the company.

The DGT's ruling

The taxpayer is subject to a real obligation for Wealth Tax as the holder of shares in a company whose assets consist of more than 50% in real estate located in Spain. The valuation of said shares must be carried out in accordance with Article 16.1 of Law 19/1991, using the theoretical value of the last approved balance sheet if it is audited with a favorable report, or the highest of three specific values if it is not.

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