Spain To Cut Taxes For Low-Income Earners

Spain’s leftist government says it will cut the income tax on lower-income households to help hard-hit consumers grapple with soaring inflation. <br />Budget Minister Maria Jesus Montero says the government will reduce the income tax on people earning up to 21,000 euros per year, or one in two workers, <br />She confirmed the government will slap a new tax in 2023 and 2024 on residents whose wealth exceeds three million euros to help pay for inflation relief measures. <br />Prime Minister Pedro Sanchez’s government announced last week that it would create a temporary tax on the wealthiest population without giving details.