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EU-funded report calls for wealth of super-rich to be taxed, not income (www.theguardian.com)
submitted 11 months ago by haxor@derp.foo to c/hackernews@derp.foo
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[-] tty5@lemmy.world 19 points 11 months ago

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

[-] Moneo@lemmy.world 3 points 11 months 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.de 4 points 11 months 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.world 1 points 11 months ago

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

this post was submitted on 23 Oct 2023
151 points (98.7% liked)

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