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V2878-17 8 November 2017 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · mayor valor

The rule of the higher value must apply when valuing properties allocated following a spouse's death

Following the death of a spouse, the taxpayer received properties in exchange for waiving their share in other assets of the community property regime. The query concerns how to value these properties for Wealth Tax purposes.

The question raised

Application of the "highest value" rule established in Article 10 of the Wealth Tax Law

The DGT's ruling

For the valuation of real estate in Wealth Tax, the highest value among the cadastral value, the value verified by the Administration for other taxes, or the acquisition value must be applied. This latter acquisition value is determined 50% by the market value at the date of death and 50% by the value established for the exchange.

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