The solidarity tax in Spain, which collects funds from those with large fortunes, has collected 623 million euro in 2023. Specifically, 12,010 large estates, which barely represent 0.1% of taxpayers in Spain, have paid for this tax, complementary to the tax on the heritage, an average fee of 52,000 euro.
Therefore, this tax figure meets the objective set by the Government of advancing a more progressive fiscal policy in which a greater effort is requested from those who have the most in a context of rising prices due to the war in Ukraine.
This tax affects net assets exceeding 3 million euro, it accrues on December 31 of each year and the declaration is submitted between July 1 and 31. This is a temporary state tax for the years 2023 and 2024.
To avoid double taxation, Solidarity Tax taxpayers only pay taxes on the part of their assets that have not been taxed by their Autonomous Community in the Wealth Tax. In this way, in the Solidarity Tax of Great Fortunes a deduction is applied to the fee paid in the Wealth Tax. That is, the amount paid in the Wealth Tax is deducted from the payment of this new tax.
For this reason, the collection has been obtained, mainly, from the large assets of Autonomous Communities that have fully or partially subsidised the Wealth Tax.
The total collection from the Solidarity Tax of Large Fortunes and the Wealth Tax amounts to more than 1,8 billion euro in 2023.
These figures are consistent with the Government’s forecasts, which indicated that the collection potential of the tax on large fortunes reached 1,5 billion, under the assumption that all the Autonomous Communities applied a 100% bonus on the Wealth Tax.
As expected, most of the taxpayers of the Large Fortune Solidarity Tax reside in communities that have given up collecting the Wealth Tax.
Thus, of the 12,010 filers, the majority correspond to large estates in Madrid (10,302 taxpayers), who have contributed 555 million euro. They are followed by high-net-worth taxpayers from Andalusia (865), who have paid 29.7 million; and the large assets of Galicia (91), with a fee to pay of 9.8 million. The three communities account for more than 95% of the taxpayers and collections.
This tax is part of a broader Government strategy to implement 21st century taxation that allows the tax system to be modernised. Among these objectives is moving towards a more redistributive system in which those who have the most contribute more, whether they are large assets, multinationals or sectors such as banking or energy companies, which currently obtain extraordinary benefits as a result of the increase in energy prices. energy and rising interest rates.
Likewise, the Government has applied fiscal measures that provide relief to the middle classes, such as, for example, the largest reduction in energy taxes in history or the reduction of IVA on basic foods. Also through the reduction of personal income tax on incomes up to 21,000 euro, which is the equivalent of the median salary in Spain and benefits, above all, the most vulnerable groups. The Government has also reduced Corporate Tax from 25% to 23% for SMEs with a turnover of up to one million euro.