The Treasury Securities held by the taxpayer on 31 December of each year should be declared in wealth tax returns as follows:
1. Letras del Tesoro and Bonos and Obligaciones del Estado, including sale and repurchase agreements (repos) should be included at their average trading price in the fourth quarter of each year. The Ministry of Economy and Finance publishes an annual list of securities setting out their average fourth-quarter quotes.
2. Unit holdings in Fondtesoro mutual funds should be reported at their net asset value on 31 December of each year.
3. Financial accounts and deposits should be reported at the balance recorded on 31 December each year, unless this is less than the average balance for the year's closing quarter, in which case the latter will apply.
Remember the taxable base may be reduced by the amount set by each Autonomous Community as a tax threshold. If your Autonomous Community has not specified a threshold, the sum to subtract is €108,182.18.
So provided the Treasury Securities held by the taxpayer on 31 December each year, valued as stated, together with their remaining assets, rights and debts, valued as indicated in the corresponding tax rules, do not exceed the above threshold, and the assets and rights they hold are worth no more than €601,012.10, there shall be no obligation to file a wealth tax return.