Siro Barro, Partner in the Tax Area of Escalona & de Fuentes, was interviewed for an article published by ABC on the increase of taxpayers subject to the Wealth Tax in the Autonomous Community of Madrid following approval by the Government of the tax on large fortunes.
In this article, Siro Barro points out, as an explanation for this increase, that “it is likely that until 2022 the non-obligation to pay the Wealth Tax in the Community of Madrid, and the administrative fine of 200 euros for failing to comply with the formal obligation to present the relevant return, has meant that some taxpayers may have preferred to assume the risk of being fined rather than declaring their assets”.
