3.2. Accrual

The tax is accrued on December 31 of each year and affects the assets owned by the taxpayer on that date.

Consequently, there is no actual tax period for this tax. Thus, the death of a person on a day other than December 31 means that the tax is not accrued in that year. The estate is taxed as part of the assets of the heirs or legatees, without them having to file a Wealth Tax return on behalf of the deceased.