Is there a wealth tax in Spain?｜. The total net value is understood as: All assets and rights of economic content owned by a natural person deducting charges and encumbrances which diminish its value, as well as personal debts and obligations.The Wealth Tax in Spain is an annual tax, payable on the total net value of your assets held on 31st December

Does Spain have a wealth tax? If so, how is it calculated? Is it an annual tax? And on what date is the total net value of assets considered for taxation purposes? Could you please elaborate on the definition of total net value and how it includes all assets and rights of economic content, deducting charges and encumbrances that decrease its value, as well as personal debts and obligations?