Got over 750k in assets? Get ready for the taxman

ZP’s latest idea is to bring back a wealth tax (the Impuesto sobre Patrimonios) which will tax the assets of anyone with over 750,000€. The tax hits private assets, whether this be a house, a boat, two cars or a pearl necklace. This tax was eliminated in 2007, although it raised some 2,100 million a year (or 0,2% of Spain’s 2007 GNP). It was scrapped because it mainly hits the middle classes, the ones with Continue reading Got over 750k in assets? Get ready for the taxman