Tax trends show revenue shifts in Mexico and wealth growth in Spain

Tax authorities in Mexico and Spain are reporting divergent trends regarding high-net-worth taxpayers.

In Mexico, the Servicio de Administración Tributaria (SAT) reported a loss of more than 500 large taxpayers over the last year. Despite increased scrutiny and digital tools used to combat evasion, tax revenue from this sector—companies with annual revenues of 1.5 billion pesos or more—fell by 0.89% in real terms during the first half of 2026 compared to the same period in 2025. However, the SAT noted high efficiency in its audit programs, achieving 111.5% compliance in its continuous improvement program and generating 169.19 billion pesos in secondary revenue through audits and inspections.

In Spain, the Agencia Estatal de Administración Tributaria (AEAT) recorded a significant increase in wealth concentration. The number of taxpayers declaring assets exceeding 30 million euros rose to 1,023 in 2024, a 117% increase from the 471 recorded in 2013. This growth occurred even as the total number of wealth tax filers saw a slight decline. Total declared assets for these taxpayers reached nearly 987 billion euros, with movable capital accounting for approximately 76.85% of the total.