Overview

• Fedea says Spain’s wealth tax is constrained by a high exempt minimum and broad regional bonifications, resulting in few effective taxpayers.
• The report models eight scenarios that adjust the exempt threshold, regional reliefs, asset coverage, and the levy’s structure, with benchmarks from Norway, Switzerland, France, Italy, and Piketty’s proposal.
• Eliminating the exempt minimum alone would raise an estimated €4,716 million, according to the simulations.
• Removing regional bonifications would yield about €6,393 million, while combining both measures would total €7,922 million.
• The study concludes that gradual, technically viable reforms could boost redistributive capacity as wealth inequality grows, while noting no government decision has been announced.