Spanish Tax Rise. Happy 2012
The rise of Spanish Income Tax to 50% for higher tax payers, coupled with a 27% for interest, dividends and gains above 24k Euros, the increase of Council Tax and the resurrection of Wealth Tax is making Spain inhabitable.
Instead of reducing superfluous expenditure in the five layers of administration, i.e European, national, regional, provincial and local, the Conservative party is now threatening executives, entrepreneurs and investors with this so called ‘solidarity’ fiscal policy.
The measures aimed to collect circa 6,000 millions Euros barely equals the 6,000 millions Euros ‘given’ yearly to the Catholic Church and fall short of the circa 20,000 millions ‘donated’ to the banking system.
Meanwhile, almost 5 million former workers are at home. In this first day of 2012 I wish we are able to reclaim our fiscal common sense.