JLFS

It has been announced that the rich will have to pay an extra tax if their assests are over a certain amount.

As yeat the certain amount is not known. But it will be for the seriously rich, I believe.

They will start to pay next year.

Will anyone on this forum be shaking in their boots because they will be affected?

Rotor

The smart money (and most with it are) will put asset`s into limited companies and draw dividends ,if they are not doing so already!

JLFS

But are you shaking in your boots, or will you move your assets off shore?

cricketman

Depends what the assets are.

If it includes housing then a lot of people will be scr*wed, especially if they take the official estimate of the properties value and then tax off that.

I wouldnt think many people have millions of euros in Spanish bank accounts, except the odd mayor and his building chums

Fred James

It sounds like they are going to reintroduce wealth tax.

Contrary to what is commonly believed, they did not actually scrap the tax, they just set the tax rate to zero so that it could be reintroduced at any time.

Under the old system there were some quite high exemptions especially on your permanent home so, if it is reintroduced hopefully only the more wealthy will pay it.

LittleWeed

Leire Pajin (Secretry General PSOE), on Antenna 3 suggests a threshold of 45,000 euros in savings as defining those who "have most" and therefore likely to be affected.

http://www.hispanidad.com/noticia.aspx?ID=136230

Early days since there doesn´t appear to be much consensus within the PSOE about this at the moment.

cricketman

I hope not #

It's not fair that those who have saved diligently get punished. I have a crap car and rent a flat so that I have large savings to invest some time if I want to. Guess I may need to spend some and be in debt like everyone else!

And they are saying extra taxes for those who earn over 50k a year. Is a 43%tax rate not enough!?

LittleWeed

No Pajin is suggesting savings rather than income. Basically, how much cash you´ve got in the bank.

cricketman

I skipped to the bottom where the business expert said they shouldn't target those who earn 47-53k euros, but I've just read the whole article and you are right there is no mention of extra taxes for that salary range...yet.

Fred James

I also understand that they are scrapping the "Beckham Law".

If you don't know what that is, look at

http://en.wikipedia.org/wiki/Beckham_law

VFR

A thought that crossed my mind is that if you are selling you will at some stage have a lot of money in your account prior to deciding where next to buy, i wonder if this will be classed as savings ?

JLFS

I did not hear about any amount on the news, it was just told as
a tax for the super rich, if it only 45k and over then it is not for super rich, it will hurt a lot of people, whe have lived and managed to save a few bob.


If you think about it 45k is the price a good car, not a sum to live the high life off the interest.

cricketman

I've not seen the same story on the TV news nor in El Pais, so hopefully it will burn and die!

LittleWeed

This statement from Liere Pajin got a bit of publicity but at the moment it is only her view rather than "party policy". Odd though that she sees people as being rich if they have savings over 45,000 euros whilst saying nothing about those whose annnual income is over that amount.

LittleWeed

Likewise - what I´ve seen in the papers this morning is a more realistic figure of around 1 million. Unfortunately I´m not going to affected.