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Wealth Tax Confusion

Fri 16th Sep 2011

Spain's Minister for the Economy, Elena Salgado, conformed yesterday that the newly reintroduced wealth tax will only be temporary measure for 2011 and 2012.

The Minister went on to describe how it would only affect an estimated 160,000 who have assets of more than 700'000 over and above their main place of residence.

The tax is expected to generate 2.1 Billion Euros of revenue per year.

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