Spanish Tax Rise. Happy 2012

The rise of Spanish Income Tax to 50% for higher tax payers, coupled with a 27% for interest, dividends and gains above 24k Euros, the increase of Council Tax and the resurrection of Wealth Tax is making Spain inhabitable.

Instead of reducing superfluous expenditure in the five layers of administration, i.e European, national, regional, provincial and local, the Conservative party is now threatening executives, entrepreneurs and investors with this so called ‘solidarity’ fiscal policy.

The measures aimed to collect circa 6,000 millions Euros barely equals the 6,000 millions Euros ‘given’ yearly to the Catholic Church and fall short of the circa 20,000 millions ‘donated’ to the banking system.

Meanwhile, almost 5 million former workers are at home. In this first day of 2012 I wish we are able to reclaim our fiscal common sense.

Guernsey Takes a World Lead with New Image Rights Legislation

On 30th September 2011 the drafting of a new law was approved by parliament in Guernsey that would protect image rights and see the introduction of registrable image rights in time for London’s Olympic Games and the 2012-2013 football transfer season.

Jason Romer, Managing Partner at ­Collas Crill, reported that if enacted the proposed legislation would also see Guernsey take a world lead on the issue and provide a clear legal code for image rights, enabling effective management whilst also protecting the public interest. Continue Reading


In 2008 the Spanish Government chose to ‘eliminate’ wealth tax by applying a 100% exemption, instead of derogating the law. On 17 September 2011 the wealth tax was reintroduced by the Spanish Government as an ‘emergency economic measure’. The 100% exemption was changed to a tax free allowance of 700.000€ for tax years 2011 and 2012. Continue Reading

Wealth Tax is now ON! – The Banana Republic of Spain

Amending the Constitution without public consultation during the summer holidays and reinstating Wealth Tax without Parliament discussion indicates that not only financially, but morally, there is something very wrong with Spain. The reinstatement of the Wealth Tax by decree during the existing tax year may respect the letter of the law, but disregards in all fairness the principle of retroactivity and parliamentary consultation. Continue Reading