The tax on Great Fortunes was born as a political tax, intended to neutralize the tax bonuses of Madrid, Andalusia 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 Madrid respondents. Andalusia, 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 applied a 100% bonus on the Wealth Tax”, they point out from Tax authorities.