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.

Other News

The Key to a Healthy Retirement Planning? Balance

Coins“Fortunate, indeed, is the man who takes exactly the right measure of himself and holds a just balance between what he can acquire and what he can use.” These words, written by The eighteenth century English physician and educator Philip Latham, could just as easily have been written about trying to achieve the balance between spending happily in the present and saving prudently for retirement.

However, the question of how to do this effectively is not one that is easily answered. As it happens, too many retirement savers find that they either spend profligately in the present, thereby jeopardising their retirement lifestyle, or they prepare with too much caution, experiencing years of unnecessary frugality only to reach retirement with more money than they really need.

Read More

Expat exodus causing a major problem for British universities

Water flowing down a plugholeWhen an expat moves from their homeland to a new destination, either for work or education, they become a potentially valuable addition to that country. Such expats may go on to become an integral part of the country, which is why the rights of EU expats living in Britain has been one of the hot topics during Brexit negotiations.

Theresa May’s pre-election refusal to guarantee the rights of migrant workers appeared to have a negative impact on many UK job sectors employing top flight individuals. It’s a problem the media highlighted as a Brexit ‘brain drain’.

Read More

Select your country

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

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.