Spain’s New Wealth Tax Beats Revenue Forecast as EU Mulls Stance

Spain’s new temporary wealth tax beat revenue forecasts despite several ongoing legal challenges against it, as tax justice groups push the bloc to consider how it could apply the levies.

Spain’s national wealth tax took effect in January on a temporary two-year basis to complement an existing wealth tax under the jurisdiction of regional governments, several of which have brought in exemptions to the measure.

Spain collected some 620 million euros from the new tax for last year, the Finance Ministry said Wednesday. The total revenue for this tax and the existing wealth tax was over 1.8 billion euros, it ...