Now the local politicians in Andalusia have decided not to charge any wealth tax! The wealth tax has been a burden for both the foreign population and the local population in Spain. Over the years, more and more countries have abolished it, and from the turn of the year it now comes into force here as well. This decision was taken on September 21, 2022. After Madrid, this region is now the one that pays the least tax in all of Spain.
Juan Manuel Moreno, Andalusia's president has announced that more taxes are expected to be cut next year. For example, the income tax will be reduced by a total of 4.3 percent and the tax on water will be abolished in 2023. This will attract new investors and wealthy people with a high income to stay or choose to move to the region permanently, which in turn luck will help the region's economic development positively.
It is also believed that this will also positively affect the housing market throughout Andalucia, as people already living in Spain will choose to enroll in this region instead. Even those who may be choosing between buying a home in other countries, will now very likely choose Spain and this region because of this and we have the best climate in all of Europe!
There is a big debate all over the world about how to save money, and here some grocery stores have tried to contribute a little so that there is more left in the wallet. For example, the large food store Carrefour has a nice offer for young adults up to 30 years and plus 65 years where you don't have to pay the VAT of 21% on most fresh products such as fruit, vegetables, bread, fish, eggs and meat.
If you also dream of living here, don't hesitate to get in touch, there are many advantages to living in this beautiful country.