Elche city hall gets its Capital Gains sums right

: HECTOR DIAZ: Elche city hall spokesman explains Capital Gains changes Photo credit: Elche city hall

ELCHE town hall has modified itsl fiscal bylaw relating to Capital Gains (Plusvalia).
Last November Spain’s Constitutional Tribunal ruled that some aspects of the municipal Capital Gains tax were unconstitutional, declaring the existing legislation null and void.
The central government has since unveiled a new law, giving town and city halls six months to adapt to the new ruling.
City hall spokesman Hector Diaz explained that although Elche would ordinarily have calculated a Plusvia income of €4.7 million, the 2022 Budget allowed for only €1.5 million.
Its new regulations have now reduced the Plusvalia tax by 50 per cent, Diaz announced.
“In other words, this means that our 2022 estimates will not be affected by the change in the law as we were realistic in predicting how much we could bring in,” he added.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at [email protected]