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ARTICLE · 05 OCTOBER 2022

Wealth Tax To Be Eliminated In Andalucía

De Giorgio Wealth Management
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The President of the Junta (Autonomous Regional Government) of Andalucía, Juan Manuel Moreno, announced on 20th September 2022 a series of tax measures for Andalucía, with the aim of attracting new taxpayers and investment into the Region.

SpainTax
Nicole Booth
Nicole Booth

The President of the Junta (Autonomous Regional Government) of Andalucía, Juan Manuel Moreno, announced on 20th September 2022 a series of tax measures for Andalucía, with the aim of attracting new taxpayers and investment into the Region.

One of the key announcements is the decision to eliminate wealth tax in Andalucía with immediate effect.

Background

In Spain, wealth tax is a State tax but is fully devolved to the 17 Autonomous Regions (Comunidades Autónomas) of Spain, with each Region having the authority to set their own wealth tax rates, allowances and reductions.

Wealth tax in Spain was suspended in all 17 Autonomous Regions in 2008 and reintroduced from 2012, supposedly on a temporary basis, as a result of the financial crisis. Wealth tax was then extended each year until 2021 when it was reintroduced permanently.

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