Contact

News & Insights

Wealth Tax to be Scrapped in Andalucia

The President of the Junta, Juanma Moreno, announced on Monday that Wealth Tax will be scrapped in Andalucia from the 21st of September. This will apply to both Spanish nationals and to those who have a secondary residence there. The region follows Madrid as the second region to subsidize this tax. 

This is being done in an attempt to attract high-level tax payers to the area and to encourage them to remain in Andalucia permanently in order to bring an increased level of investment into the area. This follows 20 of the top wealth tax payers leaving the region in 2022, taking with them 18 million euros worth of tax. 

This is predicted to attract 7000 new residents to the area, the economic benefits of which will exceed by far  the 0.6% of regional income provided by wealth tax in previous years. 

The region is also set to reduce personal income tax by 4.3% and abolish the water tax. 

This communication is based on our understanding of current tax legislation and practices which is subject to change and is not intended to constitute investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

The safest European cities

Windmill in the NetherlandsWhat would you look for when choosing a destination to move to abroad? A sea-side location with warm weather all year round, lots of culture and opportunity for adventure, perhaps? Or a place with a great economy and plenty of career prospects?

We guess there’s one key issue for almost all expats, though, and particularly for those moving abroad with young families, and that would be safety. Large cities can sometimes be dangerous places, so it’s good to know which have robust security and protection systems in place.

Luckily, The Economist Intelligence Unit has made it very easy to determine the risks by compiling a comprehensive study entitled the Safe Cities Index.

Read More

NEWS WRAP – Eco Investment Scammers Given Prison Sentences

The Old BaileyIncreasing numbers of investors are motivated to put their money into ethically and ecologically minded investments. This is undoubtedly an admirable aim, however, investors who fail to take adequate international financial advice risk becoming vulnerable to scammers looking to prey on their good intentions.

This fact has recently been underlined with the conviction and sentencing of five men for their operation of a multi-million pound fraudulent eco-investment scheme; a scheme which has been described by HM Revenue & Customs as one of the largest of its kind to be carried out in the UK.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information: