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south EDITION Bob hits back
09 - 15 dec 2011
Bob Houliston, the Councillor for the Coast, has asked that he be given the right to reply to some of the points raised in the article last week p5
Winter school announced
Valuing a “Usufruct” or lifetime interest Apartment terraces and balconies: December tasks Clodagh and Dick tell you what you need to do for December p43
Woeful Wednesday See what Andy Kay has to say about the Premier League after Wednesday nights Champions League drama p63
Watch out, the Tax Man’s about! by Louise Clarke
IT HAS been announced this week that there will be a Winter School held during the Christmas holidays to accommodate parents that work between Christmas, New Year and the Three Kings celebrations p10
Find out more on p29
Issue 634
Barry Morrow has now been arrested by Merseyside Police
Murder suspect arrested RTN WAS asked this week to appeal for the whereabouts of a man who Merseyside Police believe has vital information relating to the murders of a mother and daughter in Southport. Merseyside Police Press Office contacted RTN to ask us to help in the appeal for Barry Morrow, who they believed was heading to the Costa Blanca. Read the full story on page 4...
THE SPANISH IVA Tax is an ‘indirect tax’, similar to VAT in the UK, financed by the final consumer. Earlier this year, the Hacienda (tax office) announced a crackdown on companies and businesses charging or paying for products ‘on the black’, i.e. without paying the required 18% IVA. This tax is not collected by the state directly but charged by the seller at the time of any commercial transaction; i.e., the transfer of goods or services. End users are required to pay the tax without reimbursement, controlled by the Hacienda, forcing the company to provide ‘proof of sale’ to final consumers, for re-integration into the company accounts. And the advantage of IVA is that, as in the UK, businesses can claim it back from the government as part of their yearly tax return. So why are more and more businesses trading ‘on the black’, risking severe fines and embargos? PRIORITY The Spanish Government’s ‘Plan against Fiscal Fraud’ in 2005, like most things in Spain, took some time to get off the ground. Previously, there weren’t the resources to fully put the plan into place and they
didn’t think that they really needed the extra money it would generate. Now they do - and the new government is planning austerity measures that will affect us all, and making the payment of IVA its priority. In crisis-hit Spain the ‘black money’ industry, prominent since the days of Franco, is destined to become a thing of the past, with hefty fines to be promptly implemented against transgressors. The number of Hacienda inspectors has been increased and a spokesman has said this week that during 2012/2013 inspections on companies and businesses will be increased tenfold - British companies included. HEFTY FINES And not only will the Hacienda be targeting businesses, they will also come down heavily on customers and clients of those businesses with painful fines. So, it is in your interest to ensure that you pay IVA to avoid incurring a heavy fine. The country needs to get back on its feet somehow and the government is hoping that by ensuring the elimination of the ‘black money’ market the Bank of Spain will benefit by tens of millions of euros. So, be warned - pay the IVA!