Daily news from the Canaries and the islands' biggest English language newspaper on-line
    
Daily news from the Canaries and the islands
   Daily news from the Canaries and the islands' biggest English language newspaper on-line

Tax allowance
400 euro rebate under threat
The tax allowance of 400 euros introduced by the Spanish government in 2008 could be scrapped after just one year as part of a series of fiscal measures to increase revenue to cope with the soaring demand for unemployment and other benefits.


Zapatero
Zapatero

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Madrid - 21.09.2009 - Prime minister José Luis Rodríguez Zapatero’s an­nouncement at the end of August that changes were in the pipeline, but without saying which ex­actly, has caused a flurry of speculation ahead of his meeting with busi­ness leaders and trade unions in mid-September to negotiate the con­tent of a tax package. Zapatero vowed not to amend the tax credit of 2,500 euros for newborn babies but hinted that the 400 euros refunded to employees and self-employed individuals last year may disappear sooner rather than lat­er.  “Certain measures were taken to ease the burden of, for example, high mortgages and in­flation.  Those conditions no longer apply and we are rethinking a number of them, together with a range of changes to taxation policy”, said the prime minister, stressing that people in Spain pay “much less tax” than their EU counterparts.

This article appears in the print edition 599 of Island Connections



Gallery: 400 euro rebate under threat
Zapatero 
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