Europe's wealth taxes split over what counts as wealth

A Tax Foundation map of Europe's 2026 wealth taxes divides the countries into two camps. Only Norway, Spain and Switzerland tax an individual's total net wealth, debt deducted. France, Italy, Belgium and the Netherlands tax selected assets instead of the whole balance sheet. An advisor with an internationally exposed client needs to know which camp that client is in.

Norway has taxed wealth since 1892. The current rate is 1 percent on net wealth above NOK 1.9 million. That threshold is about EUR 172,710. In dollars, it is USD 198,996. Municipalities get 0.35 percentage points of the rate. The central government gets 0.65. Above NOK 21.5 million, the rate steps up to 1.1 percent; the second band starts around USD 2.2 million. A threshold below $200,000 reaches far down the wealth distribution.

Spain layers a regional tax and a central solidarity tax. Regional rates run from 0.16 percent in Navarra to 3.5 percent on wealth above EUR 700,000. That threshold is about USD 805,330, and some regions set it lower. Andalusia, Cantabria, La Rioja, Madrid and Murcia give full relief on net wealth below EUR 3 million. Extremadura does the same. The central solidarity tax, introduced in 2022 and extended indefinitely in December 2023, adds 1.7 to 3.5 percent on net assets above EUR 3 million, with the regional tax credited first.

The cliff is at EUR 3 million. A family just above it loses the regional shield and hits the solidarity rate. The marginal-rate jump belongs in the domicile model before the client signs anything. Spanish residents are taxed on worldwide wealth; nonresidents only on assets located in Spain. Someone with a Madrid apartment who lives abroad pays on that property. Someone who moves to Spain brings the whole balance sheet into the tax net.

In cross-border planning, 'wealth tax' is a label that tells an advisor almost nothing. The base and the threshold decide who pays. Norway taxes the balance sheet above a low bar. Spain taxes residents on everything and nonresidents on Spanish assets. France, Italy, Belgium and the Netherlands pick specific assets. The test has to happen before the domicile is set, not after.