although it is important economic impact caused by covidthe pandemic did not prevent number of rich it will continue to grow, at least initially and towards the treasury. Thus, the latest statistics wealth tax Data just released by the Tax Office show that the number of applicants for this tax, which affects only the wealthiest in society, continues to increase in almost all autonomies in 2020, at an equal or higher rate than in previous years.
special case Valencian Communitynumber taxpayers the person filing the declaration for this tax 23,892what do they mean 601 more an increase compared to the previous year, similar to the increase recorded in 2019, when the economy was in full expansion. To enter this elite club net wealth – that is, after deducting debts – at least 600.000 €Not taking into account habitual residence, which is exempted up to EUR 300,000.
In this way, the Community itself second autonomy with the largest taxpayer volume liable to pay tax for this concept, only behind Cataloniawhere they had to reckon with their assets until 82,465 citizens. Of course, it has to be taken into account that the minimum exemption limit in both autonomies is below €700,000 as the state regulations generally set, and each regional manager can adapt it later as it is a tax allocated to the communities.
Catalonia has set this minimum amount at €500,000 for several years, meaning the taxpayer count is larger. Reduced to €600,000 in the Community of Valencia in 2016 and is now approved a new decreasewhich sets it to 500,000 euros for the coming years.
In any case, a decrease that does not affect the 2020 data, so the reason for this increase in the number of wealthy taxpayers should be sought elsewhere. In this context, Antonio Pérez, head of the tax commission of the Alicante Association of Economists, reminds us that a lot has been produced during the pandemic. savings due to the decrease in social life, a trend to which the richest are no strangers.
He also reminds that not all sectors are affected equally – for example, causing the shares of technology or healthcare companies to rise – pointing to the increasing efforts of administrations to achieve their goals. compliance with tax obligations. In the case of autonomy, for example, something that causes the Valencian Tax Office, which is campaigning against, to be more cautious. fictitious address changes with this lower tribute to other autonomies, especially Madrid, where it is fully subsidized.
In total, about 24,000 of the Community Wealth Tax accumulates 72.929 million worth of assets euro, so Average of 3,052,467 Euros per person, almost 50,000 euros more than the previous year. There are more women than men among them, compared to -12,171 compared to 11,721, but their wealth is higher. Thus, according to the Tax Office, the average amount declared for men is 3.4 million, while the declaration of women in the same situation “only” reaches 2.7 million.
In any case, the figures are quite conservative compared to the 10.3 million declared by the wealthy people of Madrid, or the six million of the Galicians, who have to present the statement even if they do not make any payments, but in this case the figure is: probably quite a lot with the presence of the Ortega family, who owns Inditex in this autonomy. has been distorted.
Looking at the distribution by items, the largest amount is approximately 29,742 million. Movements It is exempt from companies, that is, the family business. However, they also accumulate 12,762 million. securities and securities (quoted shares, public debt, etc.), approximately 7,000 million euros existing accounts; 14,000 million more Real estate -of which 11.000 million is for habitual residence-; about 1.3 billion insurance life and other similar products; and 126 million luxury goodsi.e. luxury cars, jewelery or works of art.
The Community of Valencia is the second community to raise the most money thanks to this tax, with 156 million euros out of the total of 1,203 million euros entered by the autonomous group for this tax in 2020.