Go Back  British Expats > Living & Moving Abroad > Europe > Spain
Reload this Page >

Abolition of Wealth Tax

Wikiposts

Abolition of Wealth Tax

Thread Tools
 
Old Apr 11th 2008 | 2:59 am
  #1  
Thread Starter
BE Enthusiast
 
Joined: Mar 2006
Posts: 887
From: Brussels
Ray51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud of
Default Abolition of Wealth Tax

...as was promised , in the pre-election campaigns , by various ( incl. the eventual winners ) :
has anyone heard a DickieBierd about it , since ?
 
Old Apr 11th 2008 | 5:46 am
  #2  
BE Forum Addict
 
Joined: May 2004
Posts: 1,059
From: Guadalhorce Valley, Málaga
Beachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to behold
Default Re: Abolition of Wealth Tax

Well, what do you think?

The election is over, the bad guys won and all election promises are forgotten.
 
Old Apr 11th 2008 | 6:52 am
  #3  
Thread Starter
BE Enthusiast
 
Joined: Mar 2006
Posts: 887
From: Brussels
Ray51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud ofRay51 has much to be proud of
Default Re: Abolition of Wealth Tax

[QUOTE=Beachcomber;6194819]Well, what do you think?
The election is over, the bad guys won and all election promises are forgotten.[/QUOTE...

"Bad Guys " Won ?
Who were the "good guys" , then ?
Seeing as Both promised to abolish the Wealth Tax , what difference should any of this make it , now ?
Or , are we all just premature , for "manana" timing ?
 
Old Apr 13th 2008 | 5:16 am
  #4  
rachelk's Avatar
BE Forum Addict
 
Joined: Mar 2007
Posts: 1,558
From: Córdoba
rachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond repute
Default Re: Abolition of Wealth Tax

I don't know any more than I did the first time you asked this question

http://britishexpats.com/forum/showthread.php?t=522827
 
Old Apr 13th 2008 | 5:32 am
  #5  
BE Forum Addict
 
Joined: May 2004
Posts: 1,059
From: Guadalhorce Valley, Málaga
Beachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to behold
Default Re: Abolition of Wealth Tax

Now that the EU gravy train has come to the end of the line for Spain and it is now a nett contributor rather than a nett beneficiary it is going to be looking for ways of raising funds for the country's coffers (and the politician's back pockets) so don't expect the abolition of wealth tax anytime soon.
 
Old Apr 13th 2008 | 5:36 am
  #6  
rachelk's Avatar
BE Forum Addict
 
Joined: Mar 2007
Posts: 1,558
From: Córdoba
rachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond repute
Default Re: Abolition of Wealth Tax

Wealth and inheritance taxes fall within the remit of the Comunidades Autónomas, not central government.
 
Old Apr 13th 2008 | 5:56 am
  #7  
Fred James's Avatar
 
Joined: Jun 2006
Posts: 11,231
From: Granada Costa
Fred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond repute
Default Re: Abolition of Wealth Tax

Originally Posted by rachelk
Wealth and inheritance taxes fall within the remit of the Comunidades Autónomas, not central government.
Yes, that's true but there are basic allowance set by central government. The regions then can add extra deductions/allowances.

If central government decrees a very large basic allowance then the regions have to comply with that.

If anything, it is the regions, particularly Andalucia, that are making the moves to reduce IHT. Any additional measures from the government will only serve to reduce the total IHT liability.

As for wealth tax, the regions don't, so far, seem to have addressed the problem as they tend to stick to the national rules.

Hopefully Zapatero, and his new majority female cabinet, will do something about wealth tax, but that said, most resident expats do not have a wealth tax problem as the allowances, particularly on the family house, are pretty large.

Zapatero also promised a 400€ deduction from income tax for all tax payers - I doubt that he will be able to wriggle off that one!
 
Old Apr 13th 2008 | 6:00 am
  #8  
rachelk's Avatar
BE Forum Addict
 
Joined: Mar 2007
Posts: 1,558
From: Córdoba
rachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond repute
Default Re: Abolition of Wealth Tax

Originally Posted by Fred James

Zapatero also promised a 400€ deduction from income tax for all tax payers - I doubt that he will be able to wriggle off that one!
Solbes promised immediately after 9M that it would be approved at the first meeting of the new cabinet.
 
Old Apr 13th 2008 | 6:07 am
  #9  
Fred James's Avatar
 
Joined: Jun 2006
Posts: 11,231
From: Granada Costa
Fred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond repute
Default Re: Abolition of Wealth Tax

Originally Posted by rachelk
Solbes promised immediately after 9M that it would be approved at the first meeting of the new cabinet.

I hope so - 400€ off the tax bill will go some way to counteract the appalling €/£ exchange rate for us impoverished residents!
 
Old Apr 13th 2008 | 6:14 am
  #10  
BE Enthusiast
 
Joined: Jan 2007
Posts: 543
lcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud oflcortez has much to be proud of
Default Re: Abolition of Wealth Tax

Is that reduction for All workers,including the self employed?
 
Old Apr 13th 2008 | 6:26 am
  #11  
rachelk's Avatar
BE Forum Addict
 
Joined: Mar 2007
Posts: 1,558
From: Córdoba
rachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond reputerachelk has a reputation beyond repute
Default Re: Abolition of Wealth Tax

Originally Posted by lcortez
Is that reduction for All workers,including the self employed?
It's for everyone who pays but I don't know how works for the self-employed.
I think they said there'd be a payment almost immediately (ie they'll deduct less) and then the rest in one or two further payments before the end of the year.
 
Old Apr 13th 2008 | 7:12 am
  #12  
BE Enthusiast
 
Joined: Aug 2007
Posts: 858
From: Los Martinez
Bri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond reputeBri and Katee has a reputation beyond repute
Default Re: Abolition of Wealth Tax

This 400€ reduction in income tax, will that apply to non residents who abide by the law and pay income tax on their supposed earnings from property lets?

Certainly hope so, we paid 366€ this year and we do not let out to anyone.
 
Old Apr 13th 2008 | 7:27 am
  #13  
Casa Santo Estevo's Avatar
 
Joined: May 2006
Posts: 3,167
From: Galicia
Casa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond reputeCasa Santo Estevo has a reputation beyond repute
Default Re: Abolition of Wealth Tax

Originally Posted by lcortez
Is that reduction for All workers,including the self employed?
We understand it was only for the Autonomos
 
Old Apr 13th 2008 | 9:39 am
  #14  
Econ's Avatar
BE Enthusiast
 
Joined: Nov 2007
Posts: 773
From: Southern Spain
Econ has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond reputeEcon has a reputation beyond repute
Default Re: Abolition of Wealth Tax

I wouldn't hold your breath on any reductions, or at least any long term ones... as already mentioned Spain no longer receives from the EU and will be expected to pay in. Zapatero has already promised and has been paying a few hundred thousand lorry loads of 500 euros bills from the coffers to certain 'category of persona' to give him more votes coming up to the elections, the rising unemployment will suck more money from the coffers as will several other things so before long he will be trying to find ways of getting more in rather than give more out. There are major road projects needed in several areas which the EU will no longer be helping with but these are needed and are overdue, if they are or are not undertaken then this will affect the economy also (do them costs money and not doing them will cost industry money). The governments total lack of being able to sort or even acknolage the illegal property crisis will put off investment here even more.

He sold something like 20% of the countries gold reserves last year and that was when Spain was receiving from the EU, selling gold in the current gold market is a panic move... go figure.
 
Old Apr 13th 2008 | 9:56 am
  #15  
BE Forum Addict
 
Joined: May 2004
Posts: 1,059
From: Guadalhorce Valley, Málaga
Beachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to beholdBeachcomber is a splendid one to behold
Default Re: Abolition of Wealth Tax

Originally Posted by Bri and Katee
This 400€ reduction in income tax, will that apply to non residents who abide by the law and pay income tax on their supposed earnings from property lets?

Certainly hope so, we paid 366€ this year and we do not let out to anyone.
The imputed income tax paid by non-residents is on their own personal use of their property not on property rental to third persons which should be paid separately on a different form on a pro rata basis.
 


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices

Copyright © 2026 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.