By John Smith • 23 December 2020 • 13:49
SPANISH Minister of Finance, Maria Jesus Montero has announced that rents of properties used in the hospitality sector must in certain circumstances be cut by 50 per cent until the national state of alarm is ended.
Landlords with more than 10 properties in town centres who have not already offered a temporary discount will be affected in order to try to help the struggling hospitality industry which has already seen numerous closures.
Bar and restaurant owners will receive tax credits against rent and will be able to hold back certain payments whilst landlords will receive tax incentives when they lower rents.
Thank you for taking the time to read this news article “Cheaper rents for many Spanish bars and restaurants”.
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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.
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