Google
Custom Search
Last Updated: Feb 9, 2010 - 2:19 PM CET | Contact Us | Mobile | Clasificados | Directorio |

Spain News

Search more than four years of Spain news stories.

Spain Directory

The Typically Spanish Spain Directory is the largest human-compiled directory of Spain-related websites.
Browse over 68,000 links.
Add your website now - Click here

Free Spain Classifieds

Place your ad now - Click here

What's On in Spain

newOur events calender can be browsed by category or province.Browse here
Add your event here




legal spain
learn spanish





Spain wants to attract money from financial havens
larger | smaller
By h.b. - Mar 18, 2009 - 1:09 PM
EFEEFE
enlarge photo
Spain is offering impunity for those bringing money into the country from financial havens to buy public debt

The Spanish Government has announced that it has prepared, via a Royal Decree, a method to invest in public debt in Spain bringing in the money from financial havens, which will grant total impunity to the owners of the cash.

In addition such money will not be subject to tax, and the Royal Decree also cancels the obligation to declare the identity of the owner if non-resident, its country of precedence, and the amount involved.

El Mundo reports however Hacienda tax inspectors complained on Tuesday about what they consider to be the ‘ambiguity’ of the new law which comes ahead of the Spanish Government’s intention to press for the closure of financial havens at the G20 summit in London on April 2.

The new procedure is in addition to another decree a year ago which allowed the residents of financial havens to take on Spanish Public Debt without having to pay tax on the income.

Hacienda inspectors, Isabel Martínez and Francisco de la Torre, say that those to suffer under the new deal are Spaniards, and residents in Spain, who will have to pay the 18% tax which will be retained if they are individuals, and 30% if they are companies. Residents of other countries will have to meet their corresponding income tax requirements also.

The measure nevertheless shows the Spanish Government’s current need for cash to finance the increasing public debt which is a consequence of the economic crisis.


Click here for related stories


mobile mobile | email email this article | print printer friendly page

More Spain Business

Readers' comments:
Please keep to the subject. Opinions published here are of our visitors, not the Typically Spanish team. Comments which go against Spanish laws or which are libellous are not allowed. We reserve the right to delete any comment we wish. Placing a comment indicates you have read our terms and conditions and privacy policy.

Por favor, céntrate en el tema. Son las opiniones de los internautas, y no las de Typically Spanish. No está permitido verter comentarios contrarios a las leyes españolas o injuriantes. Reservado el derecho a eliminar los comentarios que consideremos fuera de tema. Escribir un comentario indica que has leído nuestros condiciones de uso y politica de privacidad.


del del.icio.us | digg digg | technorati technorati | yahoo yahoo | StumbleUpon Toolbar Stumble It!
Add to Facebook Facebook | Reddit Reddit | Seed it! Newsvine | Meanme Meneame | Wikio Wikio
Blink Blink | Google Bookmarks Google | Fresqui Fresqui | msn reporters MSN reporters | live spaces Live Spaces
Nt Space My Space | Fark Fark | Mixx Mixx | Twitter Twitter

newsnow