The government now wants The new solidarity tax on assets of 3 million euros comes into effect in 2022, so that from June 2023, 1,500 million euros can enter in cash He said the Treasury plans to collect collections from the 23,000 potential taxpayers that the new tax will reach.
Several times, Finance Minister María Jesús Montero has stated that the new tax will come into effect in 2023. When Montero presented the new tax on September 29, he was asked at the press conference: “I would like to know about the tax if it will have an impact on assets from 2022 or if it will affect assets from 2023,” he said. The minister also replied: “It will come into force from 2023.” This meant that the newly taxable next year’s assets were taxed and collected for the first time in 2024. The same is stated in the Budget Plan that the government sent to Brussels on 15 October: Its tentative scope is expected to be valid for two years, 2023 and 2024″.
However, in the same document sent to Brussels, the Government also states that it plans to enter 1,500 million from the new solidarity tax in 2023. This will only be possible when the tax enters into force in 2022,” he said. Independent Authority for Financial Responsibility (Airef) reading the document and the director of Budget Analysis this Tuesday explained, Ignacio Fernandez-Huertas. The Finance Ministry later confirmed on the same Tuesday that this is the Government’s aim if the new tax is approved before 31 December this year, as planned. In this way, the three new tax figures created by the Government to obtain the resources to finance anti-crisis measures – on large energy companies, the largest financial institutions and over 3 million assets in non-taxed communities – revolve around 2022 tax bases.
It’s not trivial that it goes into effect this year. The 23,000 taxpayers that will be affected are, in principle, primarily from autonomous communities. Madrid and Andalusia, where the wealth tax was abolished. Those taxpayers with a net worth of over €3m will have two months until the end of fiscal 2022 to make the possible planning if they plan to minimize the impact of the new tax. The new tax will not affect communities such as: CataloniaNot only does wealth tax apply here, but it does so in a more burdensome way than state law of origin.
Same schema as inheritance
The government plans to introduce a new solidarity tax under the new law to establish new taxes on banking and energy that are already being processed in the House of Representatives. The idea is to include the new figure in the draft law with a partial change and to approve the text. before 31 December. As the Finance Minister has argued, the new solidarity tax will be provisional for 2023 and 2024, but the appropriateness of maintaining it at the end of the term will be evaluated. A tax rate of 1.7% will apply to net worth between 3 and 5 million. Between 5 and 10 million net assets, a rate of 2.1% will apply; Of 10 million, 3.5% will be applied. Beyond the rate, the new tax will be subject to the existing wealth tax rules for its determination. Thus, for example, the new tax habitual residence exemption of up to 300,000 euros existing in the inheritance or in the rules applicable to family businesses.
Amounts paid for existing wealth tax paid in autonomous communities will be deducted from the new solidarity tax. Therefore, in practice, The new tax assumes a harmonization for minimum taxation in the wealth tax: In communities such as Catalonia, the future tax will not have any additional impact on taxpayers, as the regional tax on wealth is already more burdensome than the new one; In communities such as Madrid and Andalusia, where the wealth tax has been reduced to 100%, assets over three million euros will be taxed in at least 2023 and 2024. Also, if Madrid and Andalusia They keep the 100% bonus, everything collected with the new tax will go to the State coffers and will not stay in the autonomous community. Both communities have already announced that they will explore the possibility of the tax once the new tax is approved. contact him Since the Constitutional Court commented that the Treasury initiative of both regional governments threatened their financial autonomy.