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Spain says to impose wealth tax in 2011-2012

Reinstatement of the tax cancelled in 2008 would hit 160,000 people and boost state revenues by $1.5 billion, says finance minister

AFP, Thursday 15 Sep 2011
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Spain will reimpose a wealth tax in 2011 and 2012 to help slash the public deficit, Finance Minister Elena Salgado said on Thursday.

The wealth tax was suspended in 2008.

If reinstated in the same form, it would hit about 160,000 people and boost state revenues by about 1.08 billion euros (US$1.5 billion), Salgado said, adding that she expected the cabinet to approve it at a weekly meeting Friday.

 

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