RTN North Edition 703

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NORTH EDITION roundtownnews.com

Issue 703

05 APR - 11 APR 2013

Allies join asset battle by Jack Troughton

Excellent Easter

Javea’s Reinas de Fogueres

By Jack Troughton MARINA ALTA resorts have reported a successful start to the season with coastal towns busy with visitors over the Easter holiday weekend. Easter traditionally marks the start of the tourist season and town halls have recorded high occupancy levels of hotel beds – a measure of tourist numbers. Denia noted nearly 95% occupancy, Calpe 85% and Javea almost 83%. Pictured are Javea’s Reinas de Fogueres 2012 officially opening the Old Town’s 32st annual Easter artisan market, the narrow streets being filled with 84 stalls selling a wide range of goods – including chocolate!

BESEIGED EXPATS fighting Spain’s draconian new asset declaration law have found allies in Costa Blanca town halls. Local politicians fear their expat residents will be driven away by the controversial legislation and new immigrants choose other countries for a new home in the sun – hitting the fragile economies along the coast. And town halls are worried that the legislation, which demands the declaration of overseas assets worth more than 50,000€, is ill conceived and has already spread “havoc and panic” in their communities. Passed by Royal Decree last November, the rules require Spaniards and expats classed as fiscal residents to make a declaration by 30th April or face prohibitive penalties that could exceed the value of any undisclosed holdings. Expats facing being caught up in Madrid’s trawl through the country have already branded the law “the new Spanish Inquisition” and believe the declaration is a forerunner for new taxes or levies in a “money grab” by the recession hit state.

Enter a White Knight. Oscar Anton is Deputy Mayor of Javea and its councillor for Finance. Supported by other town halls he is calling on Madrid to rethink its new law. The leader of Xabia Democratica – a political party supported by a large number of expats in the Marina Alta town – he has organised two meeting with finance experts, the second was last night (Thursday) to help explain the declaration rules. However, Mr Anton believes the asset declaration exercise is missing its intended target – Spanish citizens moving money abroad to avoid taxes – and instead hitting foreign residents keen to abide by the rules. “People living here and paying taxes must declare assets over 50,000€. Why? Because the government is not thinking of the expats but the Spaniards sending money out of Spain,” he said. “Madrid wants to know how much is going to Switzerland or Germany or wherever. But what has happened? In this area and mainly in places where there are large numbers of expats facing this situation of having to declare everything. They are already paying their income taxes. Continued on page 5


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