Inheritance and wealth taxes make little economic sense. Especially since almost all the assets have already been taxed.
Bernadette is Austrian, entrepreneur, divorced and what is commonly referred to as wealthy. She lives with her children in Ibiza, far away from the video world of HC Strache. Strictly speaking, she only lives 180 days a year in Ibiza, the other half of the year she spends in her first home Vienna or elsewhere. Because anyone who is caught by the Spanish authorities because he has lived in Ibiza for more than six months becomes a taxable person there.
The Tax and Customs Administration not only checks this with on-site visits, but also evaluates mobile phone data or traffic camera recordings in order to prove who lives in Ibiza and who does not. Why? Spain is one of the few countries with wealth tax and shows no mercy when it comes to collecting it.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
