Spanish Package of Fiscal Measures for Social Justice and Economic Efficiency Include Solidarity Tax, Loss Offset Limit for Groups, and Other Measures

The Spanish Ministry of Finance has published a package of Fiscal Measures for Social Justice and Economic Efficiency. Measures include:

• The introduction of a solidarity wealth tax on individuals in 2023 and 2024 at a rate of 1.7% on assets of EUR 3 million to 5 million, 2.1% on assets of EUR 5 million to 10 million, and 3.5% on assets exceeding EUR 10 million;
• An increase in personal income tax on capital income to 27% on capital income between EUR 200,000 and 300,000 and to 28% on capital…