The new tax for estates from 3 million euros that the Government is promoting in order to replace this taxation in communities such as Madrid and Andalusia (where it has been dismantled) will have knock-on effects for other communities such as Catalonia. The current Catalan taxpayers of the wealth tax, in addition to paying the regional tax, will have to pay a bonus to the State if they declare bases of more than 20 million euros.
In this case, the difference is relatively minor: a Catalan taxpayer with a net worth of 20 million, in addition to paying a fee to the Generalitat of 434,963 euros, will have to add another 18,400 euros to the State, until the result of 453,363 euros is completed. derives from the new tax that is being processed in the Congress of Deputies. The difference grows as the net worth increases (result of discounting the debts contracted). For an example of a net worth of 40 million, to the quota of 984,963.93 euros resulting from applying the Catalan tax, the taxpayer will have to add another 168,400.14 euros for the State Tax Administration Agency (AEAT), until completing the 1,153,364 euros that derive from the application of the new tax.
According to the analysis carried out by the Registry of Fiscal Economists (Reaf) of the General Council of Economists, the taxpayers of the communities with a marginal rate of their wealth tax lower than the 3.5% that has been provided for the new state tax are bound to have to complete their taxation with a complementary amount . The REAF has found, using practical assumptions, that relatively small estates will only have to pay for the new wealth tax in Andalusia and Madridwhile medium-sized assets will also have to pay in Galicia and, if the assets are somewhat higher, taxpayers from other Communities will be affected (Asturias, Cantabria, Catalonia and Region of Murcia), because they have a maximum marginal lower than 3.5%.
The mechanism of the new tax
In the case of Catalonia, the regional wealth tax includes a minimum exempt of 500,000 euros and a fee with a scale of types that includes a maximum of 2.75%applicable to net bases from 10,695,996 euros.
The new state tax for wealth from 3 million euros, baptized by the Government as temporary solidarity tax on large fortunesincludes a minimum exemption of 700,000 euros and a rate of three sections that sets a rate of 1.7% (for bases between 3 and 5.34 million), another of 2.1% (between 5.34 and 10.69 million) and a maximum rate of 3.5% that is applied to the tranche from 10.69 million.
Related news
The Government explains that for avoid double taxation, the amount resulting from applying the new state tax will be deducted from the amount resulting from the regional tax. The objective is that taxpayers from communities where the regional tax has not been lowered do not pay more, as explained on several occasions by the Minister of Finance, María Jesús Montero. Conversely, it is pursued that rimpose a minimum tax on heritage in communities such as Madrid and Andalusia, where their autonomous governments have made it disappear, or in others such as Galiciawhose government has cut it in half.
The examples of Registry of Tax Advisory Economists (Reaf) now show that taxpayers in communities like Catalonia, Cantabria, Asturias or Murcia -where the wealth tax does exist but the maximum marginal rate has been lowered- will suffer collateral effects in the form of higher taxation for the highest tax bases.