Spain Re-Introduces Wealth Tax

Spain Re-Introduces Wealth Tax

It has been recently announced that Wealth Tax is to be re-introduced in Spain for a limited period of time. This is a temporary measure and will be reviewed on 1st January 2013. So for tax years 2011 and 2012 (submitted in 2012 and 2013 respectively) you will need to remember to include any Wealth Tax portion in your annual Tax Returns.

It is not all bad news though. With any re-introduction comes changes, and we have attempted to pick out the salient points from the announcement and these are presented below.

The new Wealth Tax will be introduced on a gradual scale from 0.2% to 2.5% with the highest percentage being paid by the owners of the largest assets. Please bear in mind that the responsibility for collecting this tax has been transferred to each individual Autonomous Spanish Community (ASC's or Comunidades Autonomas) who will be free to apply the percentages as they think fit and even to change the percentages if they think it is appropriate.

The tax exempt amount has been increased from 108,182.18 Euros (Eu) to anything over 700,000 Eu. This means that those persons with total net assets over 700,000 Eu will pay this tax. Again, please bear in mind that individual ASC's are free to change the exemption amount should they consider it appropriate. One very important change to note is that the minimum exemption amount of 700,000 Eu will also apply to Non Resident Tax Payers in Spain. There will no longer be any discrimination between Resident and non-Resident tax payers in this respect.

One subtle difference, however, remains. When calculating the Wealth Tax payable for Resident Tax Payers the exemption applies to your worldwide estate and for Non Resident Tax Payers the exemption applies to your assets in Spain.

Residents

There is a further tax exemption for residents of 300,000 Eu allowable on their main home, an example of the tax payable on a 1,300,000 Eu worldwide estate including assets held in the UK and offshore with a main home value of 400,000 Eu is as follows:

Main home 400,000 Eu minus exemption 300,000 Eu = 100,000 Eu to be added to other world-wide assets in this case 900,000 Eu. This would then be less the 700,000 Eu leaving 300,000 Eu taxable at the regional rate. Note: if the main home is valued at less than 300,000 Eu then the unused allowance cannot be used against other wealth assets.

Non-Residents

Non-residents have a maximum tax free allowance on their assets in Spain of 700,000 Euros only. No tax is payable on assets outside of Spain. Regional tax rates will apply on all assets in Spain.

Companies

Companies from the UK, Spain and the rest of the world are not subject to the new Wealth Tax and this includes UK Limited Companies which own property in Spain.

Non- Resident Tax Payers, who are subject to paying the new Wealth Tax, are recommended to submit their annual Tax Return using a Fiscal Representative who acts on their behalf in dealings with the Tax Office. The Fiscal Representative should be appointed in the following situations:

a. When the Non- Resident Tax Payer is operating from any kind of permanent establishment, eg office or shop.

b. When the Non- Resident Tax Payer is requested to do so by the Tax Office due to the amount and/or characteristics of the assets-

c. When a non-resident owns a property in Spain, they must appoint a fiscal representative.

The appointed representative can be an individual or company but must be resident in Spain. Failure to comply will be considered to be a serious tax violation, punishable with a fine of maybe 1000 Euros.

Glam Rock & 70s Tour

Glam Rock & 70s tour

Lovers of 70s music will be in for a treat when this special tour starts at the beginning of November. It will bring the glitz and splendour of the Glam rock era back in a way that will amaze and, the music and costumes will get the memories back to the days of platform shoes, frilly clothes and painted looks. A time when music changed course and we were there when it happened. David Bowie, Alice Cooper, Freddie Mercury and many more characters from the 70s will be at this great show so book early to be part of the fun!

This tour, a fund raising event for HAH (CB) will star the fabulous Charles Prince and Jukebox Legends (with their 70s show). It will feature in five great venues and tickets are on sale from today.

Tickets are available at the venues and are just 7.50 Euros (pay for 10 or more and get 2 FREE - except Rocajuna & Rendezvous). Ticket info line 695135134 / www.jukeboxpromotions.co.uk

Dates & Venues:
Wednesday 2nd November - The Club, Quesada
Thursday 3rd November - Rocajuna, Punta Prima (10 Euros - inc FREE buffet)
Friday 4th November - Casa Ventura, San Luis
Sunday 6th November - The Rendezvous, Campoamor(10 Euros - inc FREE buffet)
Tuesday 8th November - The Lounge Bar, Torrevieja

SantaLucia Insurance

Family cover for the whole family from 0 to 75 years
funeral cover,Travel cover Accident cover ,Medical cover Your children free up to age 17. over 65 cover plus loads more. all this for 10 euros per person or less a month.

The Best Home and Business Insurance in Spain with no excess charge, 100% payout on claims.

PET INSURANCE
Compensation for damage caused by the animal.
Deposits and legal assistance in the case of claims based on damages covered by the policy.
Accidents, including cost of veterinary attention, putting down and elimination of remains, with compensation for death.
Theft or loss. you get 650 euros
In the event the animal is lost, we refund the costs of radio and press advertisements to find it.
All for 70 euros for the year.

For the Cheapest Quote Call 633 692 828 WE WONT BE BEATEN ON OUR PRICES

*****GREAT NIGHT OUT***** OCT 29

Tramps and Tarts FANCY DRESS BALL and that's not all!!! FIND OUT ABOUT FREE TICKETS ON OFFER!! SAT OCT 29!
Fancy Dress Nights are great fun and later this month, Paul Cunningham Nurses will be holding a fantastic Tramps and Tarts Dinner and Dance on Saturday 29th October. It looks set to be a great night out with a chance to dress up and have some friendly, flirty fun! The ever popular ‘Dan the Man’ will be providing the non-stop music to strut your stuff to and the ticket price of just €15 includes a delicious three course meal and some wine. The event starts at 7.30pm and takes place at The Marjal (just by Nancy’s Nightclub!) on the N332. There will be great prizes for the Trendiest Tart and the Tackiest Tramp!

You can win a pair of tickets FREE for this event just by sending your email details to: [email protected]. Winners will be notified by email five days prior to the event.

Halloween Dance & Party at Los Balcones

Halloween Special - Music by Jukebox Legends

A spectacular Halloween party will take place at "AREA", Filton Centre, Los Balcones on October 31st. Tickets just 5 Euros (food menu will be available) available NOW from The Cyber pub, Filton Centre, Los Balcones. (book and pay for 10 or more tickets in advance and get 2 FREE - offer at the box office only)
It will be a "Scary" party night with great music by Jukebox Legends, fun and decorations!
What will you be doing on 31st October? Well you could be at the best venue in the Costas having a great night out and dancing the night away. Fancy dress is the order of the day so get out there and find the costume to "scare the pants off everyone!! info Call 608908720 / 695135134 or check out www.jukeboxpromotions.co.uk

Can anyone HELP

This came to us this morning into our Business section.
I don´t no if you read our article in the paper, but I am so desperate I am asking everyone if they can help, if you have a camper van that you don´t ever think you will get rid off that us and my two little boys could sleep in at night with the danger of the wall coming down on us in the house when we are asleep, that you could give to us or no anyone who as one, it would be really appreciated, I´m sorry for being so cheeky but when your fighting for your families life you will do anything thanks
Vanessa
FULL STORY Is at
http://lamarina.aspanishlife.com/topics/7-la-marina-subjects/articles/529-help-needed

Art Classes at Lo Marabu

There are two or three places available at the art classes on Wednesday and Thursday mornings at Lo Marabu restaurant on the Lemon Tree Road, Quesada near the La Laguna Hotel. Beginners are welcome as well as artists who like to work in Acrylics, pastel and watercolour. Call Suzanne on 680 961 025 or see www.sue-stokes.co.uk for more information.

Dusty Springfield & Elke Brooks Tribute Tour

Dusty Springfield & Elke Brooks tribute tour

This tour will cover 5 shows at venues in and around the Costa Blanca

It will star International singer Patti Ross who has been on some of the top stages around the World. Patti will portray the fabulous hits of Dusty Springfield and Elke Brooks with a voice that will amaze you. Her performances, in full costume, will create the feel of those special stars being live on stage before your eyes!

Patti has sung with big bands all over the World and on the original Come Dancing TV programme. She has appeared with Cleo Laine, Matt Munro, Elton John, Bruce Forsyth, Sheena Easton, Sacha Distel and many more and has also had an extensive career on the top cruise lines. You will love her voice, her personality and her wonderful tributes to two such fabulous singers

The fabulous Jukebox Legends will provide a full support for Patti as they sing their way through this Nostalgic show

Tour dates for this tour are:

Tuesday 18th October – La marina Sport Complex
Thursday 20th October – Los Arcos (la Rustika), Avd Beleares, Torrevieja
Tuesday 25th October – “AREA”, Filton Centre, Los Balcones (ticket office at Cyber pub – 1st floor)
Thursday 27th October – Rocajuna, Punta Prima (10 Euros include FREE buffet)
Sunday 30th October – The Club, Quesada

All shows start at 8-30pm and end at 11-30pm.

Tickets for all shows just 7.50 Euros (block booking deal – Pay for 10 or more and get 2 FREE - except Rocajuna)

Tickets are available at the chosen venue or call the info line on 695135134 - www.jukeboxpromotions.com

Working with venues to raise money for Help at Home (Costa Blanca)

DISCOTEMBA, 50s60s70s80s, Enjoy the music from yesterday (1950-1989). Dinner and dance.

Saturday 15 October, 2011. The café is open from 19h.
Booking essential.

Café La Cubanita
Calle Donadores 4, Almoradí
Tel. 965 702 242
Contact Vanessa (speaks english)

Special offer : MIXTA TEMBA for € 8,50
Pork chop, chicken, fish and shrimps served with potato chips and salad.

More information about the café and how to find it: http://cubanita.es

Joe Longthorne in Concert

Don't miss out on what will be one of the most amazing nights of music in Torrevieja.
Night Out Promotions presents, An Evening with the legendary Joe Longthorne and his New Show for 2011. '' A Man and His Music ''
Performing at the Municipal Theatre in Torrevieja on Monday 10th October 2011.
Ticket prices are priced at 25 for Basic Seating
35 for Improved Viewing
50 for Premier seats
For further information contact Night Out Promotions on 966 732 215 or 672 885 418
www.nightoutpromotions.com