Wealthiest 3,000 working on ‘edge of legality’ using shell companies to funnel dividends and own property to avoid income tax, says study
  • @tty5@lemmy.worldEnglish
    19•1 year ago

    Spain already does that and it’s enough to be regular rich - you get taxed on assets over 3 million euro.

    • @Moneo@lemmy.worldEnglish
      3•1 year ago

      I know this is super lazy but if possible can you explain how this works in a sentence or two? Let’s say I have 5 million invested in stocks.

      • @exonac@feddit.deEnglish
        4•1 year ago

        5-3=2 then whatever is the percentage. Let’s say 1%. That’s 20k. You do your annual tax report and it will conclude you need to send 20k€ to the tax office. This in addition to any taxes you owe due to your earnings.

        • @Moneo@lemmy.worldEnglish
          1•1 year ago

          Thank you. I have more questions now but I should probably just google websearch it at this point.