Saturday, September 25

The number of great fortunes increased by 15% in 2019, marking an all-time high

Taxpayers who declare assets of more than 30 million euros have increased, from 608 in 2018 to 701 in 2019, representing an increase of 15.3% in just one year, thus reaching historical highs.

In 2018, the first decrease in the number of super-rich taxpayers since the beginning of the economic recovery in 2013 was registered, an upward trend that recovered again in 2019, according to the latest data from the Tax Agency on the collection of Tax Heritage collected by Europa Press.

In addition, the slight drop in 2018 occurred after in a decade (between 2007 and 2017) the number of super-rich in Spain multiplied by 2.6.

Since the beginning of the economic recovery in Spain, the number of super-rich with declared assets exceeding more than 30 million euros has only increased, to 443 in 2012, 471 in 2013, 508 in 2014, 549 in 2015, 579 in 2016 and 611 in 2017. After the fall in 2018 to 608, the growth path recovered again in 2019, to 701, the highest in the historical series.

The taxpayers of the Wealth Tax were a total of 212,284 in 2019 compared to 206,037 a year earlier, so 6,247 new filers joined the declaration of the Wealth Tax coinciding with the best evolution of the Spanish economy, prior to the outbreak of the Covid-19 crisis in March 2020.

Most declare between 300,000 and 1.5 million

Specifically, almost two out of three taxpayers (67%) of the Wealth Tax declare properties and income of between 300,000 and 1.5 million euros.

The second largest group is that of taxpayers who declare between 1.5 and 6 million euros, which reached 57,024 in 2019, above the 53,671 the previous year, and represent 26.86% of the total tax filers. this tribute.

In fact, these two groups account for 93.8% of the total of filers, or what is the same, practically all the taxpayers of the Wealth Tax declare assets of between 300,000 euros and 6 million euros.

Below are the taxpayers with amounts between 6 and 30 million euros, up to 7,199, 3.39% of the total and also above the 6,465 of the previous year.

Madrid and Galicia concentrate the great fortunes

In the distribution of the data by autonomous communities, of the 212,284 wealth tax filers in 2019, most are concentrated in four regions: Catalonia, with 79,876, which tops the list at a certain distance from the following region, which is the Valencian Community, with 23,291 filers; followed by Madrid (19,090) and Andalusia (18,722), both with a very similar figure.

On the contrary, Extremadura, with 1,243 filers for this tax, is the region where there is a lower number of ‘rich’; followed by La Rioja, with 2,470 taxpayers, and Cantabria, with a total of 2,967 filers.

On the other hand, in the distribution by amount of declared equity, the regional classification changes, since in this case Madrid leads the ranking with an average declared equity per taxpayer of 10.2 million euros.

Galicia is in second position, with an average equity of 6 million, despite the fact that the number of taxpayers for this tax in the region barely exceeds 8,000. This circumstance is explained by the domicile of the founder and majority shareholder of Inditex, Amancio Ortega, his wife and children, who head the Forbes list of the richest in Spain.

The third place is occupied by Murcia, with an average declared heritage of about 3.5 million euros, closely followed by the Canary Islands, which registered a similar figure. After these, the average assets of the Balearic Islands stand out, with 3.24 million, the Valencian Community, with 3 million, La Rioja, with 1.9 million and Catalonia, with 2.6 million.

The Wealth Tax was abolished as of January 1, 2008 and after the economic crisis, the Government of José Luis Rodríguez Zapatero recovered it in 2011, initially temporarily until 2013, but the Executive of Mariano Rajoy and now that of Pedro Sánchez has maintained and extended it successively.



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