Spain’s annual inflation rate in November has remained unchanged from the previous month at 1.6%, according to the country’s central statistics unit. In January, inflation reached 3% then fell rapidly to 1.5% in June and since then has remained around the 1.5-2% mark. Inflation has now settled in positive territory for the last 15 consecutive months.
Sales made on Ebay and other seller platforms are going to be targeted by the taxman in an effort to clamp down on undeclared economic activity, the Spanish Hacienda has announced. Many people make a living by advertising and selling their products on sites such as Ebay and fail to declare any earnings to the taxman.
Andalucia attracts visitors from all over the world but Malaga province seems to be the place where non-EU visitors spend their cash. The foreign visitors spend €160 million in Andalucia’s stores each year, 80% of which is spent in Malaga.
Over 2,200 businesses have left the region so far and many continue to follow. Since Catalunya’s independence referendum on 1st October a total of 2,216 businesses have moved their registered address to out of the region, according to official Spanish registrars.
Unemployment levels in Spain are 7.9% lower than a year ago, despite a slight increase in October, according to the Ministry of Employment. In the last 12 months, unemployment figures have fallen by nearly 300,000 to reach a total of 3,467,026. Although this figure may seem high, the Spanish jobs market has come a long way since 2013 when unemployment levels reached over 5 million.
Spanish GDP is still set to grow over 3% this year despite uncertainties shrouding the disputed Catalan independence referendum. During the third quarter (Q3) of the year, Spanish GDP rose by 0.8%, according to the latest data released by the government’s central statistics unit.
More than 7 million tourists visited the Costa del Sol this summer, the highest number ever achieved, according to the Turismo Costa del Sol and employment body AEHCOS. The Costa del Sol has long been a top destination for international visitors, but its popularity reached new heights this summer after welcoming over a record breaking 7 million tourists, representing a rise of 5.2% on last year. The region is estimated to have received €7.15 billion from tourist spending this summer season, making it the best in history says the head of AEHCOS, Luis Callejón.
The Junta de Andalucía has decided to change the current level of local inheritance tax, meaning huge savings for many. From the start of next year children and spouses in Andalucía who inherit up to €1 million will be exempt from paying inheritance tax and those that inherit over the threshold will only be required to pay tax on the difference.
Malaga city court has received double the amount of claims over the mortgage ‘floor clause’ than expected. There is just one court in Malaga that has been assigned to deal with the number of claims, which has now reached 2000 since June, twice the number originally expected. Last December, the European Court of Justice ruled that people who believed they were sold a ‘floor clause’ in their mortgage could claim money back; floor clauses were fixed interest rates hidden by banks in the small print of mortgage contracts, which many home owners unknowingly agreed to just by signing.