Hot, hot, hot INHERITANCE TAX TO BE ABOLISHED

THE highest ever temperature in the Balearic Islands was recorded on Tuesday, July 18 in the town of Llubí. It reached a maximum of 44.9 degrees, according to data released from Balears Meteo.

Sweltering temperatures were also recorded in María de la Salut, with 44.6 degrees and Campanet with 44.2 degrees. In total, 14 towns and villages registered over 42 degrees, with another 33 towns showing over 40 degrees on the thermometer.

AEMET (The State Meteorological Agency) also warned of the presence of Saharan dust particles on Tuesday, which can lower air quality and pose respiratory risks.

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THE Balearic government has put an end to inheritance tax payments, it was announced on Tuesday, July 18.

Inheritance and gift tax donations between parents and children, grandchildren and grandparents and between spouses, both due to death and in inheritances during life through succession agreements are included in the move.

The government has also reduced the property transfer tax on the purchase of first homes for young people, and for people with disabilities.

“It is urgent to lower taxes on families,” stated the head of the executive and leader of the PP of the islands, Marga Prohens.

Prohens convened an extraordinary government meeting to approve by law the elimination of “the most unfair tax there is, which taxes the work and effort of parents and grandparents.”

The measure will mean inheritance tax savings of around €60 million.

The tax reform, which will not have a retroactive effect, has been approved via Decree Law that will have to be validated within the next 30 days by Parliament. The law represents the fulfilment of Prohens’ promise that before the end of July she would have adopted the main initiative of tax reforms, which she said will broaden and continue.