Madrid tax payers may face huge increases

ACCORDING to the Partido Popular Financial Head of the Madrid Community, Javier Fernández-Lasquetty, the election of a PSOE government could cost taxpayers in the area some €5.9 billion.

The policy put forward by acting Prime Minister Pedro Sánchez calls for a harmonisation of taxes across Spain in the event that he is returned with a working majority.

Currently, local death duties and gifts are heavily reduced in the Madrid area, as is equity income and even personal tax would be likely to increase.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page