When do you have to submit the Wealth Tax declaration? Modelo 714 must be submitted between April 7 and June 30, only online. Not all individuals are obligated to file this form; it depends on specific criteria. As with the income tax return, Modelo 100, its presentation is linked to the fact that the assets and rights exceed a certain value, as we will see below. Who must file the Form 714 declaration? Individuals and entities meeting the following requirements must submit the Wealth Tax or Modelo 714: • Asset Value: If the value of your assets and rights exceeds €2,000,000 (without considering personal obligations or encumbrances). • Deductions and Bonuses: After accounting for deductions or bonuses, the tax amount for Form 714 is calculated. • Exempt Minimum: Even if the value of rights and assets doesn’t exceed €2,000,000, the declaration is required if the net assets (tax base) exceed the exempt minimum. The general exempt minimum is €700,000 (excluding habitual housing up to €300,000). However, this threshold varies across autonomous communities: • Valencian Community: €600,000 • Catalonia: €500,000 Let us help you stay compliant and avoid penalties. We’re experts in both U.S. and Spanish taxation since 1965. 📅 Book your free consultation today