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B Law & Tax
28 March 2023

Tax advisor: Keys of the law that regulates the new taxes of the large fortunes, energetics and credit institutions

Since the beginning of this year, Law 38/2022, of December 27th, for the establishment of temporary energy taxes and of credit institutions and financial credit establishments and by which the Temporary Solidarity Tax on Large Fortunes is created, came into force. In this way, some tax rules are amended to comply with the so-called effort-sharing principle contained in Constitutional Court judgment 167/2016. These are the keys of the law that regulates the new taxes of the large fortunes.

Temporary Solidarity Tax on Great Fortunes

This tax plays a fundamental role in the tax changes that are collected in 2023. It is a tax rate complementary to the Wealth Tax and is of a state nature. It is based on that it will be charged with an extra fee to those net assets of individuals that exceed 3 million euros, with a validity of two years.

 One of the objectives to be achieved with this tax is to reduce the differences in the taxation of assets between the different autonomous communities, and in a way manage to balance the balance between taxation of different taxpayers based on fortune.

The Temporary Solidarity Tax is therefore complementary to the Wealth Tax. In order to ensure the objective that the Temporary Solidarity Tax applies to taxable persons with assets of a specific amount, the first 3 million euros shall be taxed at zero rate.

Temporary taxation of financial institutions and credit institutions

Those credit institutions and financial institutions that have an income of more than 800 million euros for interest and commissions of the year 2019, has been established for them a new tax with temporary character of, in principle, two years.

The amount to be paid is the result of applying 4.8% to the sum of income and commission expenses plus the interest margin of the entity in question.

This expenditure is paid into the State Treasury in order to comply with the European Central Bank’s decision to avoid allocating general government budgets for the purpose of budgetary consolidation.

Temporary energy charge

As in the previous tax, in the energy sector, has been configured a tax on a temporary and non-tax public basis. Entities working in Spain in different energy fields such as coal mining, oil refining or natural gas production must be part of these services.

The entities that must comply with these services must have generated by 2022 at least 75% of their economic volume in different productive areas such as extraction, mining or the manufacture of coking plants.

Those major operators whose net business amount for the year 2019 is less than 1,000 million euros will not have to obey this payment.

The amount to be paid corresponds to apply a  1.2% of the net turnover.

These are the keys of the law that regulates the new taxes of the large fortunes.

B Law & Tax International Tax & Legal Advisors.


“En B LAW&TAX somos especialistas en asesoramiento fiscal internacional tanto a empresas como para particulares. Si desea ampliar la presente información, estaremos encantados de poder atenderle en el 917817194 o en info@blaw.es