Words: Ashley Rigg
Published: 2nd September 2009
Spain to raise taxes on the rich
Kyero.com report on a statement by Jose Blanco, Spain’s Public Works Minister that hints at tax rises for the “rich”. With unemployment the highest in Western Europe, Spain is running a huge budget deficit and like many other countries will be forced to raise taxes.
The opposition says tax rises will affect the middle classes most and with the country’s budget situation the way it is, it is likely a large proportion of the population will suffer.
Tax changes will also likely affect the market for overseas property, especially if there are increases in income and property taxes.
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Kyero.com
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