Wealth Tax by Country
Last reviewed: 2026-05-09. Wealth-tax rules change with national budgets — verify with the issuing authority before planning.
| Country | Status | Threshold | Top rate | Primary residence |
|---|---|---|---|---|
 Argentina | In effect | ARS 27 million (~$25,000) for residents on worldwide assets; lower for non-residents on Argentine-situs assets. Bienes Personales tax — assets held abroad by Argentine residents pay a higher surtax (up to 2.25%) unless repatriated. Subject to frequent peso-threshold updates due to inflation. | 1.75% on worldwide assets above ARS 1.5 billion (residents); 0.5%-1.25% scale. | ARS 27 million primary-residence allowance. |
 Bangladesh | In effect | Tk 4 crore (~$330,000) net wealth before any surcharge applies (2025-26). Bangladesh has no standalone wealth-tax statute — instead the National Board of Revenue levies a wealth surcharge calculated as a percentage of the ordinary income-tax bill, keyed to the taxpayer's declared net wealth. A 2026-27 proposal under review would convert this into a direct progressive wealth tax (0.25%-1% of net wealth) rather than an income-tax surcharge. | Progressive surcharge on the income-tax liability: 10% (Tk 3-10 crore net wealth), 20% (Tk 10-20 crore), 30% (Tk 20-50 crore), 35% above Tk 50 crore. | No specific carve-out — included in the net-wealth statement used to calculate the surcharge band. |
 Belgium | In effect | €1 million average value in a securities account over a 12-month reference period (per account, not per person). The annual Tax on Securities Accounts (taxe sur les comptes-titres), in force since February 2021, is narrower than a true net-wealth tax — it captures only securities and cash held in qualifying brokerage accounts above the threshold, not full net worth. Some tax-treaty-covered non-resident holders are exempt. | Flat 0.15% annually on the account value above the threshold. | Not applicable — the tax reaches financial securities accounts only, not real estate or other personal assets. |
 Bolivia | In effect | Bs 30 million (~$4.3M) net wealth as of 31 December each year. Impuesto a las Grandes Fortunas (IGF), created by Ley 1357 of December 2020 and first collected from 2021 through the Servicio de Impuestos Nacionales. Applies only to individuals, not companies, and taxes worldwide assets for residents. Framed at introduction as affecting roughly 0.01% of the population. | Progressive 1.4%-2.4%: 1.4% on the Bs 30M-40M band, 1.9% on Bs 40M-50M, 2.4% above Bs 50M. | No specific carve-out — primary residence is included in the net-wealth calculation like other assets. |
 Colombia | In effect | COP 3.5 billion (~$870,000) net wealth (2024). The 2022 tax reform reintroduced a permanent wealth tax (Impuesto al Patrimonio) replacing the previous temporary version. Applies to Colombian tax residents on worldwide wealth. | 1.5% above COP 13 billion (~$3.2M). | COP 509 million (~$130,000) exempt per person. |
 Liechtenstein | In effect | CHF 0 — wealth tax integrated as imputed-yield income tax (4% notional rate on net wealth above CHF 200,000 single). Liechtenstein technically does not levy a separate wealth tax but applies a 4% notional yield on net wealth which is then taxed as ordinary income — economically equivalent. | Variable — depends on income tax brackets applied to the imputed yield. | Included in net-wealth basis at administrative valuation. |
 Netherlands | In effect | €57,000 per person (2025 box-3 threshold). Box-3 is technically an income tax on a deemed return, but it functions economically as a wealth tax. The Hoge Raad ruled the historic deemed-yield system unconstitutional in 2021/2024 — the government is implementing actual-yield taxation by 2027. Non-residents pay box-3 only on Dutch-situs investment property. | 36% on a deemed yield (effective rate ~1.4%-1.7% of asset value depending on category). | Excluded — primary residence taxed separately under box 1 (imputed rental income). |
 Norway | In effect | NOK 1.7 million single / NOK 3.4 million married (2024). Primary residence valued at 25% of market value (taxable basis). Norway's wealth tax has driven measurable HNWI emigration to Switzerland since the 2022 increase to 1.1% top rate. Norwegian-tax-resident HNWIs face a 37.84% effective tax on dividends in addition to wealth tax. | 1.1% (combined municipal 0.7% + state 0.4% above NOK 20.7M). | Valued at 25% of market value — substantial discount to taxable basis. |
 Saudi Arabia | In effect | No minimum threshold — Zakat applies to the full Zakat base of Saudi- and GCC-owned business assets. Zakat is a religiously mandated levy distinct from a Western-style wealth tax, administered by ZATCA and charged only on the Saudi/GCC-owned share of a business's assets; foreign-owned shares are instead subject to the 20% corporate income tax. There is no personal wealth tax on individual net worth. | Flat 2.5% of the Zakat base (broadly, zakatable assets minus permissible liabilities). | Not applicable — Zakat is a business-asset levy, not a personal net-worth tax, and does not reach an individual's home. |
 Uruguay | In effect | Approx. UYU 5-6 million (roughly $125,000-165,000) non-taxable minimum for resident individuals on Uruguayan-situs assets (2026); non-residents face a lower threshold. Impuesto al Patrimonio (IP), administered by the DGI. Foreign-situs assets held by resident individuals are excluded from the base — a deliberate territorial design that, combined with Uruguay's temporary new-resident tax holiday, is a common draw for relocating HNWIs. | 0.1%-0.3% for residents on the excess; 0.7%-1.5% scale for non-residents. | No separate exemption — included in the taxable base at cadastral (not market) value, which substantially reduces the effective burden. |
 Venezuela | In effect | 36 million tax units (Unidades Tributarias) net worth for individuals; 100 million tax units for companies. Impuesto a los Grandes Patrimonios (IGP), enacted July 2019 and amended by an August 2019 reprint that revised the taxable subjects and taxable period. Given hyperinflation and the tax-unit-based threshold, effective coverage has fluctuated with currency reforms. | Base rate 0.25%, with the executive empowered to raise it up to 1.5%. | The registered principal residence (vivienda principal) is exempt. |
 China | Regional / cantonal | Shanghai: exemption for a household's first 60m² per person of living space, taxed above that on new purchases. Chongqing: a value threshold on high-end/villa residential property (roughly 2x the citywide average sale price). China's 2011 property-tax pilot, limited to Shanghai and Chongqing, remains the only recurring real-estate holding tax on private housing in the country — a national rollout has been studied for over a decade but not enacted. No tax on financial wealth exists anywhere in China. | 0.4%-0.6% (Shanghai, on newly purchased second+ homes); up to 1.2% (Chongqing, on qualifying luxury/villa property). | Shanghai exempts the per-person living-space allowance on a household's first qualifying home. |
 Spain | Regional / cantonal | Most autonomous communities: €700,000 net wealth (€300,000 primary-residence allowance applies separately). Spain levies a state Impuesto sobre el Patrimonio plus regional surtaxes. Madrid, Andalusia, Galicia, and Cantabria offer 100% bonifications (effective 0%) — but the state Solidarity Wealth Tax (Impuesto Temporal de Solidaridad de las Grandes Fortunas), in force since 2022 and renewed annually, captures wealth above €3M in zero-rate regions to prevent regional arbitrage. Beckham-regime taxpayers pay wealth tax only on Spanish-situs assets. | Up to 3.5% (Asturias) at the top bracket; standard state rate caps at 3.5% above €10.7M. | €300,000 exempt per person. |
 Switzerland | Regional / cantonal | Set by canton — typically CHF 50,000-300,000 single. Zürich CHF 77,000; Geneva CHF 84,000. Wealth tax is purely cantonal — federal Switzerland levies no wealth tax. The Lump-Sum Taxation regime (forfait fiscal) for HNWI residents typically also covers wealth-tax obligations through the negotiated taxable base. | Combined cantonal + communal: ~0.1%-1.0% depending on canton. Zug, Schwyz lowest. Geneva, Basel-Stadt highest. | Included at imputed/cantonal valuation, typically below market value. |
 Cambodia | Real estate only | 100 million riel (~$25,000) in assessed property value. The Tax on Immovable Property (TOIP), administered by the General Department of Taxation, is Cambodia's only recurring holding tax on real estate; state, agricultural, and industrial land are excluded. Cambodia levies no tax on financial net worth. | Flat 0.1% annually on the value above the threshold. | No specific exemption beyond the general threshold — owner-occupied homes above the value line are taxed the same as investment property. |
 Costa Rica | Real estate only | Construction value (plus permanent installations) above ¢143 million (~$286,000, 2026) for residential property. Impuesto Solidario para el Fortalecimiento de Programas de Vivienda (the 'luxury home tax'), in force since 2009, requires owners to file a self-declared valuation every three years and pay annually each January; revenue funds social housing programmes. | 0.25%-0.55% on a progressive scale by construction value. | No exemption — the tax specifically targets high-value ('luxury') homes, which routinely includes primary residences above the threshold. |
 Dominican Republic | Real estate only | RD$10.7 million (~$180,000, indexed annually) in combined assessed residential-property value per individual. IPI (Impuesto al Patrimonio Inmobiliario), administered by the DGII, is paid in two instalments (March/September) on assessed rather than market value, updated every two years. The Dominican Republic has no tax on financial net worth. | 1% annually on the assessed value above the threshold; trusts lose the exemption and pay 1% on the full assessed value. | Counted toward the threshold; separate exemptions exist for owners over 65 and for agricultural land. |
 France | Real estate only | €1.3 million in net real-estate assets. France abolished the broad ISF (Impôt de solidarité sur la fortune) in 2018 and replaced it with the IFI (Impôt sur la Fortune Immobilière) — a tax only on real-estate wealth. Movable wealth (stocks, bonds, cash, art) is not taxed. Non-residents are subject to IFI on French-situs real estate only. | 1.5% above €10M net real-estate value. | 30% allowance on primary-residence value. |
 Greece | Real estate only | Individual real-estate holdings with a total tax-assessed (objective) value above roughly €250,000-400,000, depending on the specific supplementary bracket applied. The supplementary component of ENFIA (Ενιαίος Φόρος Ιδιοκτησίας Ακινήτων) functions as a progressive wealth surtax layered on top of the flat per-property main ENFIA charge. Greece has no tax on financial assets or wealth held outside real estate. | Progressive supplementary ENFIA rate from about 0.15% up to roughly 1.15%-1.5% on portfolios valued above €2 million. | No separate exemption — the primary residence's assessed value counts toward the portfolio total that triggers the supplementary charge. |
 Italy | Real estate only | Foreign assets only — Italian-situs real estate is not subject to wealth tax. IVIE/IVAFE are wealth-tax-style levies on assets held abroad by Italian tax residents. Domestic Italian wealth is taxed only via income, IMU (real estate), and inheritance regimes. The €100,000 / €200,000 HNWI flat-tax regimes substitute for IVIE/IVAFE on covered foreign assets. | IVIE (foreign property): 1.06%. IVAFE (foreign financial assets): 0.4% on accounts, 0.2% on securities. | Italian primary residence: no wealth tax. Foreign primary residence: IVIE applies. |
 Panama | Real estate only | First $120,000 of a primary residence's registered value is fully exempt (under Law 66 of 2017); $30,000 for other property types. Impuesto de Inmuebles is Panama's annual real-estate holding tax — Panama has no separate tax on financial net worth, and the exemption thresholds make it comparatively light for modest-value homes. | 0.5% (up to $700,000 of value), rising to 0.7% above $700,000. | Exempt up to $120,000 of value; must be registered with the Ministry of Economy and Finance's Exonerations Department to qualify. |
 Portugal | Real estate only | €600,000 per individual owner of urban residential property and building plots (€1.2M for jointly-taxed couples). AIMI (Adicional ao IMI), in force since 2017, is layered on top of the ordinary IMI municipal property tax and applies only to urban residential/building-plot value — Portugal has no tax on financial wealth. | 0.7% above the threshold, rising to 1% above €1M and 1.5% above €2M; corporate owners face 0.4% with no exemption threshold, and 7.5% for owners registered in blacklisted tax havens. | Included in the taxable base — no exemption for owner-occupied property beyond the general threshold. |
 South Korea | Real estate only | KRW 900 million (~$650,000) in housing value for most owners; KRW 1.2 billion for single-property owners. Land holdings above KRW 500 million are taxed separately. The Comprehensive Real Estate Holding Tax (종합부동산세, CRET), administered nationally by the National Tax Service, functions as South Korea's de facto wealth tax — the country has no tax on financial net worth. Multi-property owners have borne a disproportionate share of collections as the government uses CRET to dampen speculative housing demand. | 0.5%-2.7% for housing, rising to as much as 5% for multi-property owners in designated speculation-control zones. | Sole-property owners get a higher KRW 1.2 billion threshold rather than a full exemption. |
 Thailand | Real estate only | First 50 million baht of a primary residence (owned with land) is exempt; 10 million baht if the person owns only the structure. The Land and Building Tax Act B.E. 2562, effective from 2020, replaced the old House and Land Tax and Local Development Tax with a unified annual holding tax based on appraised value rather than rental value — Thailand has no tax on financial net worth. | Up to 1.2% for commercial/vacant land, rising by 0.3 percentage points every 3 years (capped at 3%) for land left idle 3+ consecutive years; agricultural and residential rates are lower. | Substantial exemption thresholds above (50M/10M baht) before any tax applies. |
 Trinidad and Tobago | Real estate only | No universal exemption threshold — applies to the assessed rental value of all residential land and buildings, subject to case-by-case objections. The Property Tax Act 2009 came into force in 2010 but collection was suspended for over a decade; residential assessment notices and active billing resumed from February 2024, with the Property Tax (Amendment) Bill 2024 easing the transition for property owners. | 2% of the annual rental value for residential property (reduced from an initial 3%); higher rates apply to commercial and industrial property. | No blanket exemption; owners may formally object to their property's assessed valuation within an extended window under the 2024 amendment. |
 Zimbabwe | Real estate only | Residential property valued above US$250,000, owned by an individual under age 70. Introduced in January 2024 and intended to fund urban infrastructure, actual collection remains suspended pending finalisation of the administrative and legislative framework — the government has said the tax is 'postponed, not abandoned' rather than repealed. | 1% of assessed property value, capped at US$50,000 per year. | No exemption — the tax explicitly targets high-value residential property, which typically includes the owner's home. |
 Austria | Abolished | — Austria abolished its wealth tax in 1994. Persistent left-coalition proposals to reinstate but no current legislation. | — | — |
 Cyprus | Abolished | — Cyprus's annual Immovable Property Tax was based on 1980 Land Registry valuations at a nominal 0.2% rate and was abolished with effect from 1 January 2017 as part of a wider post-crisis push to ease property-ownership costs. Owners still pay one-off transfer fees, stamp duty, and municipal charges, but no annual net-wealth-style property levy. | — | — |
 Denmark | Abolished | — Denmark abolished its wealth tax in 1997. Capital tax integrated into income-tax progressive brackets and property-value taxation. | — | — |
 Finland | Abolished | — Finland abolished its wealth tax in 2006 under PM Vanhanen's government — citing capital-flight risks and administrative complexity. | — | — |
 Germany | Abolished | — Germany's wealth tax was suspended in 1997 after the Federal Constitutional Court ruled it unconstitutional (unequal treatment of real-estate vs financial assets). Periodic political proposals to reinstate but no current legislation. Greens and SPD typically support, CDU/FDP oppose. | — | — |
 Iceland | Abolished | — Iceland levied a temporary wealth tax 2010-2014 in the post-financial-crisis recovery. Has not been reintroduced. | — | — |
 India | Abolished | — India's Wealth Tax Act 1957 charged 1% on net wealth above ₹3 million (₹30 lakh). It was abolished by the Finance Act 2015, effective assessment year 2016-17, and replaced with a 2% income-tax surcharge on individuals with income above ₹10 million — the administrative cost of collection was cited as exceeding the revenue it raised. | — | — |
 Ireland | Abolished | — Ireland levied an annual wealth tax under the Wealth Tax Act 1975 at 1% on net wealth above a threshold, covering individuals, discretionary trusts, and private non-trading companies. It was abolished with effect from April 1978 after business and farming groups linked it to capital flight and reduced investment. | — | — |
 Japan | Abolished | — Japan's zaisan-zei (財産税) was a steeply progressive one-time capital levy imposed in 1946-47 under Allied Occupation-era reforms to help finance postwar reconstruction and reduce wartime-accumulated wealth concentration — it affected roughly the wealthiest 13% of households and was never repeated as a recurring tax. Japan has no ongoing net-wealth tax today. | — | — |
 Luxembourg | Abolished | — Luxembourg abolished its net wealth tax (impôt sur la fortune) for individuals, sole proprietors, and partners in transparent entities from 1 January 2006. A minimum net wealth tax and a 0.5% levy on assets above €500 million remain in force for corporate entities only — individuals pay none. | — | — |
 Pakistan | Abolished | — The Wealth Tax Act 1963 taxed net wealth above Rs 2.5 million at rates of 0.5%-2.5%. Collection was phased out from the 2001-02 assessment year and the Act was formally repealed by the Finance Act 2003 — reportedly amid resistance from large real-estate and military-linked landholders. | — | — |
 Sri Lanka | Abolished | — Sri Lanka introduced a wealth tax in 1958 on the recommendation of economist Nicholas Kaldor, alongside expenditure and gift taxes. Following the 1990 Tax Commission's findings that it raised little revenue relative to its administrative cost, it was abolished from the 1992/93 assessment year. Periodic proposals to reinstate a better-designed version — including from the World Bank — have not been enacted. | — | — |
 Sweden | Abolished | — Sweden abolished its wealth tax (förmögenhetsskatt) in 2007. The decision was driven by capital flight observations — estimated SEK 500B-1.5T held abroad by Swedes during the tax-in-effect period. | — | — |
 Turkey | Abolished | — Turkey's Varlık Vergisi (Wealth Tax Law) of November 1942 was a one-time capital levy nominally aimed at wartime profiteers but applied at sharply discriminatory rates against non-Muslim minorities. Under UK/US pressure it was repealed on 15 March 1944; promised refunds to affected taxpayers were never paid. | — | — |
Reading this matrix
- In-effect wealth taxes apply to worldwide net wealth for tax residents (with treaty modification possible for non-residents on local-situs assets).
- Real-estate only regimes (France IFI, Italy IVIE) tax only specific asset classes — financial wealth is outside scope.
- Regional / cantonal regimes (Spain, Switzerland) impose wealth tax at the sub-national level — effective burden depends heavily on residence choice within the country.
- Abolished jurisdictions are listed for historical context. Reintroduction proposals appear regularly in left-coalition platforms but have not produced new legislation in any major OECD country since 2010.
- Treaty relief. Wealth-tax treaties are rare — double taxation is usually unilaterally relieved through domestic foreign-tax-credit rules (Spain, Norway, Switzerland). The OECD Model Convention has provisions on capital taxes (Article 22) but few countries operate full wealth-tax treaties.
See also: Tax residency matrix · Foreign property buyers.