Around 27,400 of all wage and income taxpayers registered in Germany had an income of at least one million euros in 2019 - most of them were entrepreneurs. A fifth of the income millionaires (5400) received the income but also from employment, as the Federal Statistical Office announced on Monday. However, income from capital assets could "only be incompletely represented". Hamburg and Bavaria had the highest density of millionaires.
On average, the millionaires earned an income of 2.7 million euros, as the statisticians continued. According to the report, around 2019,114 taxpayers in Germany paid the wealth tax rate in 500. This rate of 45 percent was due in 2019 from an annual income of 265,327 euros - for couples with an income of 530,654 euros or more. These taxpayers accounted for 6.6 percent of total income in Germany and 13.2 percent of the tax amount.
Twelve out of 10,000 Hamburgers earn more than one million
In Hamburg, the proportion of millionaires among all income taxpayers has been the highest for years. In 2019, twelve out of 10,000 persons subject to unlimited income tax (1.2 per thousand) had annual income in excess of the million mark. In Bavaria, it was nine out of 10,000 taxpayers (0.9 per thousand). The proportion was lowest in Saxony-Anhalt and Thuringia (0.19 and 0.17 per thousand).
According to the data, the number of rich people increased from 2018 to 2019: In the case of millionaires, for example, the number rose by 4.6 percent, and the rich tax rate was paid by 2200 taxpayers more. The statisticians evaluated the wage and income tax statistics for 2019. Due to the long deadlines for tax assessment, this statistic is only available about three and a half years after the end of the tax year, as they explained.