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Wealth Tax in Andalucia to be scrapped from 21st September 2022
The president of the Junta de Andalucia said the abolition of wealth tax will attract investment to Andalucia. He also announced a reduction in the rate of income tax and the cancellation of the water tax in 2023. This will put Andalucia the third region in Spain on the ranking of fewest taxes. This changes will have a very positive impact on increasing revenue and attracting investment to Costa del Sol that will strongly develop economic activity in this area.
It has been estimated that the tax reduction will attract 7.000 new residents. Foreigners with high income will now easily spend long periods in Andalucia being able to make Costa del Sol their permanent home paying very reasonable taxes here.
