Ray51

...as was promised , in the pre-election campaigns , by various ( incl. the eventual winners ) :
has anyone heard a DickieBierd about it , since ?

Beachcomber

Well, what do you think?

The election is over, the bad guys won and all election promises are forgotten.

Ray51

[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 ?

rachelk

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

http://britishexpats.com/forum/showthread.php?t=522827

Beachcomber

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.

rachelk

Wealth and inheritance taxes fall within the remit of the Comunidades Autónomas, not central government.

Fred James

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!

rachelk

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

Fred James

I hope so - 400€ off the tax bill will go some way to counteract the appalling €/£ exchange rate for us impoverished residents!

lcortez

Is that reduction for All workers,including the self employed?

rachelk

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.

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.

Casa Santo Estevo

We understand it was only for the Autonomos

Econ

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.

Beachcomber

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.