Only Italy surpasses us. Spain is the second country in the European Union and the Organization for Economic Cooperation and Development with the most tax pressure on wealth. It is 40% and 37% higher than the EU and OECD averages, respectively.
The report on fiscal competitiveness 2023 prepared by the Institute of Economic Studies (EEI) highlights that “In Spain there are two tax figures that have a greater regulatory tax pressure“.
On the one hand, corporate taxation, with a corporate tax (IS) among the six most burdensome in the OECD and 29% higher than the EU average; and, on the other, the second worst property taxation in the EU and the OECD.
“20 years ago, in the 1990s, there were many countries that had strong asset pressure. Spain, instead of aligning itself with the best practices, has maintained it,” highlighted the general director, Gregorio Izquierdo.
In this sense, the IEE recalls the new Solidarity tax on the Great Fortunes. “In heritage we have reached the situation that the same asset can be recorded by four different tax figures,” added Izquierdo.
The report also denounces that, in general, Tax collection in Spain has once again set a historical record in 2023. “The tax revenue forecast is going to grow by a percentage somewhat higher than GDP, so The fiscal pressure will be around 39% and the fiscal effort is already 18% higher than that of the EU“he concludes.
