Solidarity Tax on Large Fortunes: Exemption limit extended to non-residents

02/02/2024.- Spain’s solidarity tax on large fortunes is a temporary tax imposed on the wealthiest residents to help the government deal with the cost of living crisis.

Introduced by Law 38/2022 of 27 December 2022, it applies to:

  • Spanish tax residents with net wealth above €3 million (when calculating an individual’s net wealth, worldwide assets will be included in the calculation);
  • Individuals not considered Spanish tax residents with net Spanish assets above €3 million


In the chart below, you will find the relevant tax rates:

From To Tax rate Tax payable
€ 0 € 3,000,000 0% 0
€ 3,000,000 € 5,347,998 1.7% 39,916
€ 5,347,998 € 10,695,996 2.1% 152,224
€ 10,695,996 onwards 3.5%


However, readers must be aware that the Spanish Government passed on December 27th, 2023 a new Royal Decree-Law, bringing a significant change to the Temporary Solidarity Tax on Large Fortunes (TLF). Previously, non-residents were unable to benefit from the €700,000 tax-exempt minimum available to other taxpayers. This latest decree, however, has amended this, extending the exemption to all taxpayers, regardless of their residency status in Spain. This exemption has been extened with retroactive effect to fiscal year 2022.

Please, also be note that this tax is considered analogous to the Wealth Tax (IP), and therefore, falls under the regulations of Double Taxation Agreements signed by Spain.

We also want to draw reader’s attention to the fact that the Spanish Constitutional Court judgement of November 7, 2023 declared constitutionality of the temporary solidarity tax on large fortunes approved by Act 38/2022. However, despite the above referred judgement, there continues to be discussion about its validity under law, both from a constitutional and an EU law perspective.

If you need any further information in connection with Spanish Solidarity Tax on Large Fortunes, do not hesitate to contact us at