The Spanish wealth tax (Impuesto sobre el Patrimonio) was introduced in 1977 as a temporary measure. It was abolished in 2008 but then reintroduced, again temporarily, in 2011. Since then there have been annual extensions of the tax, which continues to be in force today. This paper provides a general description of the wealth tax, including its territoriality rules, tax base and approach to valuation. The paper also explains the rate structure, the rules for tax deductions and limitations, and how the tax is assessed, collected and enforced.