Spain’s Economy Minister, Pedro Solbes announced on Wednesday that the government is seeking to cut the top marginal rate of income tax and streamline the number of income tax brackets.
Solbes did not offer any specific proposals during an address to the College of Economists, merely stating that the Socialist government intends to reduce Spain’s top rate of tax, currently 45%.
He also indicated that the number of tax brackets will be slimmed down to three or four from five.
In addition, he revealed that further reforms may create incentives for investment in pension funds for lower and middle income earners. Tax reforms for home buyers are also under consideration.
However, it has also emerged that the government is considering raising the level of capital gains tax from 15% to 18%.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment