P.S They basically just renamed it to Large Fortunes Tax and raised the threshold from when the tax applies to euro 3m .
They call 3 million a large fortune?
P.S They basically just renamed it to Large Fortunes Tax and raised the threshold from when the tax applies to euro 3m .
Gloabl tax Alert: Spanish Government introduces Temporary Solidarity Tax
"The Solidarity Tax would be in force for two years, although the Law includes a review clause allowing the Government to extend it for future years."
This wealth tax won’t be temporary lol I bet it will stay for much longer
What? 3mm eur in wealth is f**k lot!They call 3 million a large fortune?
You're joking right?What? 3mm eur in wealth is f**k lot!
Exactly. It's horrendous for individuals with that kind of wealth while also earn €10m+ annually.If a guy who has made 100m euros lives in Spain then after 10 years he will have lost around 30% of those savings in his bank to the new Large Fortunes Tax. You will then eventually lose almost all your money by retirement .
Spanish government are crazy. Spain is not a place for anyone with ambition of becoming rich or staying rich to live. It's a holiday destination or holiday home spot at best and nothing more.
As a spanish citizen who moved abroad I'm unsure about them being on their way out, the other major party's candidate (PP) is completely uncharismatic, just an old guy which I havent heard anything of for the past year. The other right-party is VOX but they're too conservative to get a major % of votes, and luckily, the other far-left party (Podemos) seems to be on the decline aswell.As someone that has lived in Spain for many years, I can assure you the Socialist & Communist government of Spain is on its way out, they came to power without going through a referendum, as the Socialist didn't have enough votes they formed an alliance with the Communist party and the independent parties of Catalunya, general elections will take place this year, they will lose, but once again they leave Spain with an absurd amount of debt, highest unemployment rate of the EU, an economy completely dependent on tourism, massive taxes left and right, everyone with a bit of money has left or is doing everything they can to hide their wealth, many YouYubers have gone to Andorra, others have moved to Portugal under the NHR program.
The future of Spain is very bad, as the economy gets worse and worse, taxes have to go up and up, sooner or later they will have to get rescued, it's sad but that's the result of Socialism, and as far as the wealth tax, that one isn't going away anytime soon, the central government doesn't allow the different regions to implement their own policies, some regions have inheritance tax, others don't, but the Socialist government has already said they are ready to pass a law across the country so everyone pays inheritance tax.
Spain is no longer a country to live in, many better options out there...
It would be terrible for Spain if PSOE & Podemos stay in control of the government, more Spanish people will leave the country just as you have.As a spanish citizen who moved abroad I'm unsure about them being on their way out, the other major party's candidate (PP) is completely uncharismatic, just an old guy which I havent heard anything of for the past year. The other right-party is VOX but they're too conservative to get a major % of votes, and luckily, the other far-left party (Podemos) seems to be on the decline aswell.
So I personally think the PSOE will win again. They've raised pensions by almost 9% this year and public salaries a bunch aswell. It is definitely not sustainable but in the short term they've bought the votes of pensioners, or near to be pensioners plus public workers, which make up a big % of the population..
But yeah, spain is not a good country to work in, there are high taxes and the tax agency will f**k you up when they see you file a high tax return.
True, i remember the temporary VAT increase from 17.5% to 20% in the UK to bail out the Irish (s**t you not) banking system.theres nothing more permanent than a governments temporary tax
What do you think if someone moves to spain with beckham law for 6 years?
Lol, since I am considering, what are the downsides? Looking for quality of life with tax advantages of capital gains, do you know any better places?I think they should undergo careful psychological assessment at the nearest clinic if they have real money .
Lol, since I am considering, what are the downsides? Looking for quality of life with tax advantages of capital gains, do you know any better places?
Please let me know if theres a place better than spain or more precisely south of spain with weather, quality of life, tax savings like beckham law? First world country please.Plenty of countries around the world with no taxes and great quality of life! (A lot more freedom and quality of life than in the USSR)