2023-09-20 13:42:02
Updated Wednesday, September 20, 2023 – 13:42
The figure raises a total of 623 million, very far from the 1,500 million that the Treasury promised
The Minister of Finance, Mara Jess Montero.EP
The tax on Great Fortunes was born as a political tax, intended to neutralize the tax bonuses of Madrid, Andaluca or Galicia, and thus apply fiscal homogenization. And the collection results confirm this, showing that the vast majority of the collection accumulated in 2023 comes from the Madrid community. 90%, specifically.
According to data from the Ministry of Finance, the tax raised a total of 623 million euros, of which 555 million They came from the 10,302 respondents from Madrid. Andaluca, for its part, contributed 29 million more, and Galicia another 9.8 million.
The total collection, furthermore, falls far short of the figures promised by María Jesús Montero’s department. The estimate was 1.5 billion, so the published data barely represents 40% of what was projected.
In the Treasury, however, they value the figure very positively. First, because they point out that 1.5 billion was the potential figure that could be reached. And, second, because to the data already presented they add the Wealth tax to try to offer a general image of the taxation of the rich.
“The total collection from the Solidarity Tax of Great Fortunes and the Wealth Tax rises in 2023 to more than 1,868 million euros. These figures are consistent with the Government’s forecasts, which indicated that the collection potential of the tax on large fortunes reached 1,500 million, under the assumption that all the Autonomous Communities would apply a 100% bonus on the Wealth Tax”, they point out from Tax authorities.
From Brussels, where she appeared before a commission of the European Parliament to explain the priorities of the Spanish presidency, Minister Montero has defended the usefulness, necessity and success of the tax, indicating that as long as there is no reform of the tax, the objective is to keep it in place. force, and has attacked the Government of the Community of Madrid on several occasions. “There are some territories where large incomes, large assets, before the approval of this tax did not pay. And in some that I am not going to comment on, but that you know perfectly well, they did not pay for the large incomes, but since the state legislation was implemented they do and that is very important because that is precisely going to pursue the equality of all. citizens,” he noted.
Montero has defended the constitutionality of the measure, the virtues and has reiterated that “it has fundamentally allowed all Spaniards who were in that condition to contribute to the public coffers to finance the welfare state, which is a rebalancing and redistributive policy and “progressive” so that those who have the most “contribute in the proportional measure that the rest are doing”, so that the burden does not fall on the middle classes, he said.
“In Spain there were some territories, some autonomous communities, that had the taxes of large fortunes completely subsidized and therefore exempt from payment. The fact that the Government of Spain has legislated in this sense is making it possible for a person to live where he lives. is above those three million euros contributes to some extent to financing public services and therefore it is not the middle class of our country that bears a greater tax burden, as usually happens in all Member States. Come on. asking high net worth individuals to participate to offload those workers and that middle class that is proportionally contributing to a greater extent,” he assured.
Makes the tax permanent
The minister considers that the collection figure is “good”, although it was lower than expected, and maintains that “above all, the political objective has been met.” Asked if her team’s idea is to keep him if they manage to form a Government, Montero said that they will have to “study his performance.” We also want to do so at the risk of the debate on autonomous financing because the taxes on wealth and assets are expressed in different figures and we have to have the ability among all of us to discuss what is the most effective way to make that fortune pay (…) With one formula or another we will have to be able to maintain that collection.
Montero has minimized claims for possible illegality of the measure and has defended that if only 600 million were collected it is because “basically when the potential collection of a tax figure is calculated, it is done in an assumption as if the rest of the Autonomous Communities that may have some type of tax had practically done so.” Or in other words, if the assets were not facing a payment by other figures of the Autonomous Communities, especially the Wealth Tax, an amount would have been collected that could have been double for approximately “those 600 million in an environment of 1,200 or 1,400 million euros. But as there have been communities that fortunately have maintained their tax figure, then the collection does not reach that maximum potential that it would have if there had been a generalized emptying.”
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