Large estates in Spain grow by 15% in one year

Taxpayers with large net worth grew by 14.

Oliver Thansan
Oliver Thansan
03 September 2023 Sunday 16:22
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Large estates in Spain grow by 15% in one year

Taxpayers with large net worth grew by 14.8% in 2021, to 831 compared to the figure of a year earlier. It is one of the data that is extracted from the Wealth Tax statistics published today by the Tax Agency corresponding to the year 2021. Those "rich" are taxpayers who declare a tax base of Wealth Tax of more than 30 million. In 2020, the citizens who reported having more than that number were 724.

This group includes citizens from all over Spain, including those from communities such as Madrid where the tax is subsidized at 100%.

As in previous years, the highest collection of the tax corresponded to Catalonia: 594 million of the 1,352 million received in all of Spain. This means that 44% of all collection comes from the Catalan community. On the other hand, taxpayers residing in Madrid and with assets of more than two million euros saved 1,212 million by having the tax subsidized 100% by the regional government.

The weight of Catalonia on global collection (the aforementioned 44%) is slightly lower than the previous year since collection in the community grew less than in Spain as a whole: 8.7% compared to 12.4%.

With the new tax on wealth that came into force last year, a part of the 83,482 Madrid taxpayers who were saved from paying the tax for the bonus should pay an amount to the treasury for their assets.