When can you show up?

Last December 2022, the implementation of a new Tax was published in the Official State Gazette that will, in principle, be transitory, with effect for the years 2022 and 2023, the Temporary Solidarity Tax for Great Fortunes.

It is a direct, personal and complementary tax to the Wealth Tax, which may reduce the tax rate resulting from this new tax; (Law 38/2022, of December 27).

The accrual period or date on which the valuation will be made for the purposes of the obligation to submit the self-assessment is December 31 of the corresponding year, with the submission period from July 1 to 31 of the following year, by filing ( self-assessment) of model 718.


What does it consist of?

The Temporary Solidarity Tax on Large Fortunes is levied on the net worth (minus charges, encumbrances, debts and personal obligations for which it is liable) of individuals, both residents and non-residents in Spain, for an amount greater than €3,000,000 .

In the case of resident taxpayers, in the same way that happens with the Wealth Tax, a minimum exemption of €700,000 is established. The tax rates range from 1.7% for assets of up to €5,347,998.03; 2.1% for assets between €5,347,998.03 and €10,695,966.06; and 3.5% for the rest.

Once the full rate has been determined, a limit similar to the one already existing for the Personal Income Tax and Wealth Tax rates applies, in such a way that, when the sum of the full amounts of the Income Tax Personal Income Tax, Wealth Tax and Temporary Solidarity Tax on large fortunes exceeds 60% of the tax base of Personal Income Tax, the Temporary Solidarity Tax quota will be reduced. large fortunes until reaching said limit, without the reduction being able to exceed 80% of the quota of the Temporary Solidarity Tax for large fortunes previously.