By Euro Weekly News Media • 05 May 2011 • 10:36
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THE European Union (EU) has inflicted the worst tax treatment on the Balearic Islands when compared to all the other Spanish regions. Last year the archipelago transferred €375.5 million, mainly through taxes; while only €40.6 million was given in aid, a recent report by the Government’s Directorate General of European Funds.
The Balearic Islands has long since ceased to be one of the wealthiest communities in the state, ranking seventh for GDP per capita.
“All the communities with a higher GDP – including the Basque Country, Navarra, Madrid, Catalonia, La Rioja and Aragon – all have better EU fiscal balances than us,” explained European Funds General Manager Jaume Garau.
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