Juanma Moreno, president of the Junta de Andalucía, has announced the abolition of the Wealth Tax.
On the one hand, in the coming days, the regional government intends to abolish the wealth tax in Andalusia by subsidising it by 100%, as has already been done in the Community of Madrid, in an attempt to reduce the tax burden and thus attract more investment.
On the other hand, regarding the regional part of the Personal Income Tax, the government intends to deflate the rate in the first three income brackets and will increase by 3.5% the amounts exempt from taxation by this tax.
At MDG Advisors we will be keeping a close eye on any new developments regarding these tax measures. If you have any questions, please do not hesitate to contact our team.