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No taxing start for President Moreno

RESIDENTS in Andalucia are set to pay less income tax under new Junta laws, thanks to new President Juan Manuel Moreno, who plans to introduce the “fiscal revolution” this year.

Despite claims that a drop will impact social services, the Junta, as part of a three-year plan, aims to lessen the tax burden on both the lowest and highest earners.

“It is a massive drop in taxes, and, as long as another government doesn’t repeal what we are doing, we will lower taxes every year, so that from 2019 to 2022, we have the same taxation as Madrid,” said Moreno.

Workers in Madrid now pay between 9% and 21% income tax, depending on how much they earn.

The lowest earners in Andalucia pay 10% while people earning above €120,000 per year pay 25.5%.

Moreno believes that reducing the gap would benefit families and attract investment.

 

Short URL: http://www.canarianweekly.com/?p=47304

Posted by on Apr 18 2019. Filed under World News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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