Wealth tax scrapped in Andalusia
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Andalucia has become the region of Spain (with the exception of the Basque Country) with the fewest taxes after Madrid. The president of the Junta, Juanma Moreno, announced on Wednesday 21 September there will no longer be a wealth tax in Andalucia.
Moreno said this tax accounts for 0.6% of income for the regional government (95 million euros a year) and the change will have a very positive impact on increasing revenue and attracting investment.
Ten of the top 20 wealth tax payers in 2019 left Andalucia in 2020, resulting in a loss of income of nearly 18 million euros (3.5 million euros in wealth tax and 14 million euros in personal income tax).