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The Treasury advances the entry into force of the tax on large fortunes to 2022


The wealth tax will come into force in 2022, earlier than the Government had proposed, which had foreseen that the ‘solidarity’ tax would begin to be applied in 2023 and be extended during 2024. The Treasury hopes to collect with this measure 3,000 million in two years.

Although both the head of the Ministry, Maria Jesus Monteroas other members of the Executive have repeated 2023 and 2024 as the date of application, in part of the Budget Plan sent to Brussels on October 15, it is included that expects to enter, already in 2023, some 1,500 million.

This «only possible if the tax has come into force in 2022», affirms the Independent Authority for Fiscal Responsibility (Airef). Something that has been confirmed by the Ministry of Finance, assuring that it will be so as long as the new tax on large fortunes is approved before December 31 of this year.

When Montero announced this «solidarity tax» for large fortunes, he assured that the intention is «to ask for a greater effort that translates into solidarity in the general interest» at a time as complicated as the current one.

They will pay it taxpayers with wealth greater than 3 million euros. Specifically, for assets between 3 and 5 million, it will be 1.7%, while for those with between 5 and 10 million, it will be articulated at 2.1%. Assets greater than 10 million euros will be taxed at 3.5%.


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