The Law on Spanish Wealth Tax dates from 1991 (Ley 19/1991). The tax rates have not changed since then. While in 1991 the interest rate in Spain was about 10 to 15 per cent, they are now at 1 per cent. If someone in 1991 had to pay 1.7% for wealth taxes, this was acceptable, as these assets were far more profitable than they are today. Thus the actual impact of Wealth Tax has increased significantly as a result.