Temporary Solidarity Tax of Great Fortunes (IGF)
Last December the Law 38/2022, of December 27 where the new Temporary Solidarity Tax of Great Fortunes was regulated.
Taking into account the temporary nature of this tax, the IGF will be applicable for the years 2022 and 2023, although its regulation has left open the possibility of keeping it in force in the legal system, despite the expiration of its validity, and depending on the results obtained.
This new tax harmonizes taxation between the different autonomous communities and is a complementary tax to the Wealth Tax. This means that this new tax will be applied, on a state basis, in those autonomies where the Wealth Tax is not taxed due to its bonus, such as in the autonomous communities of Madrid or Andalusia.
The IGF taxes personal assets that exceed the net value of 3,000,000 euros, with reduced minimums for taxpayers resident in Spain and regulating tax rates between 1.7 and 3.5%, as a minimum and maximum, respectively.
Possible unconstitutionality?
This tax has been the subject of debate by specialists in the field and its possible unconstitutionality is even anticipated. In fact, this week, it became known that the Constitutional Court has accepted for processing the unconstitutionality appeal presented by the Junta de Andalucía in relation to this tax. (access to the news from El País).
Although admission to proceedings by the Constitutional Court does not imply per se the unconstitutionality of the IGF, this body will begin to analyze the substance of the matter of this tax and will rule whether or not its regulatory regulation is contrary to constitutional precepts.
If it is declared unconstitutional, taxpayers could challenge their self-assessments and request the return of improper income that had been made under this tax.
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