2024-07-03 05:24:02
Spain has more High-income taxpayers More than ever before. In 2022, thanks to the positive development of corporate profits, the good performance of the economy and strong employment data, the number of people with an annual income of more than €601,000 increased by 25% compared to the previous year to 15,186. This is by far the largest group of high-income earners in the annual analysis of personal income tax updated by the tax office on Monday. It is also the group of taxpayers with the largest proportional increase.
The previous record for the number of extremely high earners was set in 2021, when 12,178 citizens joined this elite club; the 2021 figure was only slightly higher than in 2019, when The 2020 health and economic crisis. The data released on Monday relate to 2022 figures, which are released two years late because they are based on last year’s tax returns. The highest earners in the country It is the group that accepts the largest number of members in proportion.
The statistics not only collect information on work income, but also other sources such as investment, economic activity and real estate returns. Based on all these data, the tax office classifies all taxpayers into 10 income brackets according to their taxable income.
The group with incomes over €601,000 was by far the fastest growing group, with a 24.7% increase, much higher than the next group (€150,000 to €601,000), which grew by 17.2%, and the €60,000 to €150,000 group, which grew by 14.5%. The number of people on lower and middle incomes is growing at a slower rate, while the number of the lowest earners is falling: the lowest group has fewer people than a year ago.
The total number of tax returns was close to 22.9 million, up 3.8% from the previous year. Despite the historic growth in the number of high-income earners, this group of super-rich people only accounted for 0.07% of all taxpayers.
The structure of income has a huge impact on the success of the richest people. Low-income and middle-income people, The wealthy essentially live off their work, and they supplement those returns with capital and savings income, which consists primarily of stocks, dividends, interest, and other types of capital gains, often tied to market and stock market performance.
If only movable assets (such as bank deposits or stock dividends) are analyzed, individuals with an annual income of less than 60,000 euros receive only a few hundred euros on average each year. But for the super-rich, the value of these investments reaches an average of 426,000 euros per year. In 2022, despite soaring inflation and the energy crisis, companies in the blue-chip Ibex 35 index recorded total revenues of 596 billion euros and a net profit of 51.9 billion euros, making this the second best year in history and helping to increase the incomes of the richest.
By region, high-income taxpayers are mainly concentrated in the Madrid region, followed by Catalonia and Valencia (the Basque Country and Navarre have their own tax systems and are therefore not included).
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