The richest filers
In 2022, based on data as of December 31, 2021, a total of 231,376 Spanish taxpayers reported assets for this tax, which is 5.65% higher than the year before. The combined value of these declared assets exceeded two million euros, according to statistics released by the Tax Administration on Monday.
Specifically, the latest figures highlight the segment of filers with a tax base in the 6 to 30 million euro range. In this category, the number of taxpayers with holdings in real estate, shares, savings, insurance, jewellery, art, and luxury goods rose from 7,421 in 2020 to 8,368 in 2021, an increase of 897 filers, representing a 12% growth.
Additionally, the tally of taxpayers declaring a tax base above 30 million euros reached 831 filers, up 14.7% from the prior period.
Catalonia leader
Among the 231,276 individuals who filed wealth tax returns in 2021, Catalonia accounted for 85,876 filers, a rise of 4.14% from the previous year. This represents 37% of all filers, roughly one in every 2.7 Catalans, and more than four times the 20,030 filers in Madrid. Even though Madrid residents can benefit from a 100% discount, they still must declare wealth tax.
Following Catalonia, the distribution of wealth tax filers includes the Valencian Community with 27,610 declarants, Madrid with 20,030, Andalusia with 19,830, and Aragon with 15,780. The Balearic Islands have fewer than 10,000 filers, at 8,900, while Galicia reports 8,550 and Castile and Leon 7,680. In a subsequent grouping come Murcia with 4,510, Asturias with 3,930, Castile-La Mancha with 3,920, Cantabria with 3,030, and Extremadura with 1,280 filers.
Average net worth
Catalonia leads both in the number of filers and as the top contributor to wealth tax revenues, recording 593.72 million euros in 2021 for the autonomous community’s coffers. This amount marks an 8.63% increase from the prior year and accounts for about 43% of the total revenue reported by the autonomous communities, which stood at 1.352 billion euros.
Nearly half of the total revenue in 2021 flowed into Catalonia’s treasury. Yet, the data reveals that Catalan filers do not declare the largest asset totals. Overall, the value of declared assets amounts to 96,542 million euros, spread across shares, real estate, insurance, jewellery, art, and other luxury goods. Madrid taxpayers declare assets totaling 112,882 million euros.
When looking at average assets per filer, the average in Catalonia sits at 2.82 million euros, lagging behind Madrid’s 11.12 million. Galicia shows 6.67% of taxpayers, Balearic Islands 3.99%, Murcia and Canary Islands 3.50%, and Rioja 3.08%. The Valencian Community tallies 2.86 million on average, while Andalusia averages 2.84 million in declared assets per filer.