New Spanish tax laws affecting an estimated 200,000 British expats, have sparked panic, prompting some to leave the country or hand in their residence cards at town halls before today's deadline (30 April), fearing a Cyprus-style money grab.
Opponents, including Spanish politicians, have branded the new asset declaration law discriminatory, and fear an exodus of EU residents from the fragile economies of the coastal towns. Russell Thomson, the former British Consul for Alicante, Spain, has led a petition to the EU, branding the law unlawful and discriminatory against non-Spanish residents.
The Spanish government requires that any resident with an overseas asset worth more than €50,000 and who lives in Spain at least six months (183 days) of the year is affected – and must declare what they own abroad.
The Spanish government requires that any resident with an overseas asset worth more than €50,000 and who lives in Spain at least six months (183 days) of the year is affected – and must declare what they own abroad.
Failure to declare or any errors in any of the 720 online forms will result in a penalty of €10,000 or more. As relatively few Spaniards have assets outside of Spain, those most affected are EU residents, the vast majority of which are British pensioners and retirees who have homes in the EU and, or, rely on EU pension funds and trusts for their income. They are required to declare EU bank account numbers, mortgages and other details, via professional intermediaries, in an online format, considered risky by many.
Any delays or errors will attract hefty penalties. No information has been given as to what will be done with the data. The new law was passed in November 2012, but the majority did not find out until several months ago via the local English-language newspapers.
3 comments:
For anyone who still seriously considers voting for the Conservative party - either in the local or national elections: ask yourself one question:
Would the EU puppet Cameron ever have offered a referendum on EU membership, were it not for UKIP rising in the polls?
Two months earlier, Cameron said that he saw 'no need for a referendum'.
Three months later, after 'offering' one, he attacked Labour for ignoring the democratic and legitimate wishes of British people!!
The man is a vain and totally directionless puppet of Frau Merkel and the EU gangsters - just like the leaders of the other two major UK parties.
We should all thank God that UKIP is rising up to threaten these utter traitors to Britain who have sold this country down the river for so many years - to a situation where now, 75% of our laws are written and passed in Brussels, not in Westminster.
If you love this country - and want at this very late hour to save it from the EU and the unlimited immigration of millions of largely unskilled immigrants taking jobs from British people at lower wages, and draining the welfare budget, then you simply HAVE TO get out today and VOTE UKIP.
Otherwise, if you want to know your future - just look at what the other 3 parties have done to this country over the last 10 years.
EU Referendum Bill quietly dropped
The Bill to give effect to David Cameron's Cast Iron Guarantee™ for an EU referendum - the one that he says we'll have in 2017 if he wins the next election - has been quietly dropped.
So what now for all those Tories who've kept the faith in the misguided belief that Cameron would finally deliver on a promise and give them an EU referendum? The Bill that would allow a referendum has been dropped and the Tories aren't going to win the next election so it's time to stop propping up the lying europhile Tories and start supporting the only party that will give us a referendum on our membership of the EU.
Mario Draghi, president of the European Central Bank, takes centre-stage again today as the ECB gathers for its monthly meeting.
With the eurozone economy shrinking, inflation dropping and unemployment at record highs, there's a strong expectation that the ECB will heed the danger signs and cut eurozone interest rates - trimming the main refinancing rate from 0.75% to 0.5%.
But some economists are hoping for more decisive action from Draghi -- such as new measures to stimulate bank lending to Europe's small businesses.
The ECB has decamped to Slovakia, Bratislava for today's meeting. We get the decision at 12.45 BST, but followed by the closely-watched press conference at 1.30pm BST.
We shouldn't pretend that a small cut in interest rates will cure the patient, though.
As Jennifer McKeown of Capital Economics points out:
The possible announcement of policies to stimulate bank lending, particularly to SMEs and in the region’s periphery, might be more helpful.
But even this would leave the ECB lagging behind other central banks.
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