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The Revival of Wealth Tax.
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The Revival of Wealth Tax
Nicolas Laiz and Karl Fuchs Auditax N.L.
At the end of 2007 the Wealth Tax Law was amended in such a way, that everybody received a 100% tax reduction and henceforth nobody had to pay it anymore. However, the legislative framework and therefore the tax itself were not eliminated at that time.
The general crisis situation in Europe, but specially Spain's obligation to reduce it's budget deficit, has led the Spanish Government to the decision to revive this tax temporarily to increase revenue. In the introduction of the Royal Decree Law (RDL) 13/2011, from 16.09.2011, the government gave exactly these reasons to justify the measure. However, almost all of the dispositions of the original law from 1991 remain unchanged, only a few new articles were introduced and a number of others were modified. Although this measure is supposed to be aimed at people with high income, it looks highly probable, that many others will have to pay it as well because of the legal framework surrounding this tax.
The Wealth Tax in Spain is regulated by a National Law, introduced in its new form in 1991. In order to finance its autonomous regions, the Central Government has rendered the administration and collection of the tax to the individual regional governments. It has also given them the necessary powers to change this law for their particular region and many regional governments have used these powers to amend the national dispositions. This circumstance could now be the cause, that many people, residents and non-residents, might have to pay this tax, even though they were not targeted by this measure in the first place. At this point, we'd like to resume the most important new stipulations of this RDL.
1) The tax is payable for the tax years 2011 and 2012, meaning that the corresponding declarations have to be made in 2012 and 2013.
2) The exempt value of the habitual (residential) property was elevated to 300,000 euros.
3) The exempt value of all declarable assets before tax has been elevated to 700,000 euros.
4) All non-residents have to appoint a representative for the tax authorities and failing to do so could cause a 1,000 euros fine or multiples thereof, if repeatedly failing to comply.
If we analyse points 2 and 3, in conjunction with the regional legislation, we draw the following conclusions.
A) Being for the residential property, the exempt value applies to tax-residents only.
B) Most of the regional governments have established a much lower threshold before tax and therefore a lot of people will now be included as potential payers.
C) The introduction of a new article (6) into the tax dispositions, obligating the non-residents to name a representative shows clearly, that the legislator has put a certain focus on those kind of possible tax payers. They will also find it difficult to find a representative, as this person will be made personally responsible for the tax payment of the non-resident. It'll certainly increase the cost for that service and most likely money deposits will have to be made to the representative to ensure payment.
The national legal framework for this tax has become law, but most of the regional governments have not yet pronounced themselves. Some might to decide to collect, others to adapt their regional laws and others not to apply the legislation.
It is the time of the year that annual budgets are made and tax changes introduced. In order to find out whether you have to pay or not, we recommend you to contact your tax adviser in the beginning of 2012. The first due date of the tax is June 30th 2012.
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Louisiana Canary Islander Descendents Visit Lanzarote.
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Louisiana Canary Islander Descendents Visit Lanzarote
Leading New Orleans Chefs Research Canarian Cuisine
Photos Liz, Jesús Porteros
A party of Los Isleños, Canary Islands Descendents from St. Bernard, Louisiana, visited Lanzarote and other Canary Islands for two weeks in September led by St. Bernard Culture and Heritage Society President Dorothy Benge and Bertin Estevez, Vice President Joan Phillips and Parish Historian William "Bill" Hyland.
The Canarian Museum and Cultural Centre - a declared National Monument - was almost destroyed by Hurricane Katrina in 2005, but has now been rebuilt with a grant of $3 million from the American Government. During the storm, the vast majority of the 40,000 homes of the Canary Islands Descendents in the New Orleans district of St. Bernard suffered severe damage with flood waters rising almost to the roof.
Heritage and Culture Society
Joseph "Chelito" Campo, of Lanzarote origin, was the co-founder of Los Isleños Heritage and Culture Society of St. Bernard in 1976. He is descended from Francisco Campo of San Bartolome, Lanzarote who, arrived as an immigrant in 1783 on board the SS Margarita. He was among three thousand Canary Islanders who emigrated to southeast Louisiana in the late 18th century and formed Spanish-speaking settlements in rural areas around New Orleans. Known as the Isleños, they settled in St. Bernard Parish and were particularly prosperous providing the New Orleans market with the majority of garlic, onions, beans, potatoes and poultry consumed in the city in the late 18th and early 19th centuries."
Discovering the Secrets of Lanzarote Cuisine
Canarian Cuisine for Louisiana
The Canary Island Descendents accompanied Executive Chef Brian Landry and Sous Chef Jerry Middleton, two culinary experts who are introducing Canarian cuisine at the new Borgne Restaurant in New Orleans. This is the first time that "Cocina Canaria" will feature on the menu of a top class dining establishment in the United States of America.
Lanzarote was the first island the guests from America visited. Senior Vice President and Tourism and Tourist Centres Councillor Astrid Pérez, invited the American chefs to gather first hand information on cooking methods, ingredients and wines from their opposite numbers at the Monumento al Campesino and the Castillo de San José, as part of a visit to all the attractions. They also watched bakers preparing traditional gofio toasted maize dishes at the Los Dolores Fiesta in Mancha Blanca.
Borgne Restaurant
Brian Landry, partner and executive chef of the Borgne Restaurant and his partner, celebrity chef and media personality John Besh, who was unable to make the trip to the Canaries, believe that the tasty cuisine on the menu of the Borgne will stimulate the interest of their clientele to holiday in the Canary Islands to enjoy even more of the region's gastronomic delights.
Lanzarote Cuisine at the Borgne Restaurant in Downtown New Orleans
John Besh
John Besh, one of the most renowned chefs and respected media personalities in America is the owner of multiple restaurants and a recipient of many awards. His book My New Orleans: The Cookbook, which contains 200 of his favourite recipes, was produced by Dorothy Kalins, editor of gourmet magazine "Saveur", the American version of the Michelin Guide. "What I enjoy doing is focusing on some of the authentic flavours of the cultures that built New Orleans based on solid research conducted in their countries of origin. This will now be extended to the cuisine of the Canary Islands."
Seafood Restaurant
Besh said that he and Landry want to draw on the lesser-known Canarian culinary tradition at the casual seafood Borgne Restaurant, which is named after the lake both Louisiana natives grew up fishing and which is located in the area of the Canary Islands Descendents. The two chefs are long-time friends who, according to Besh, have discussed going into business together for some time. "The timing is right and it's going to be Brian's restaurant as he is obviously passionate about seafood and I want to help him achieve this."
Brian Landry
Chef Landry also has impeccable credentials, having been executive chef at two New Orleans legendary restaurants Galatoire's and Antoine's. The latter, founded in 1840, was used in Oliver Stone's 1991 movie, JFK. After earning a biology and philosophy degree from the University of Alabama, Brian Landry changed his mind about attending medical school and returned to his first love: the kitchen. Working in the restaurant business since he was 15 years old, the New Orleans native is passionate about preparing fine cuisine and is now focusing his attention on Cocina Canaria. Landry is delighted with this opportunity to introduce the food, wine and cheeses of the Canaries to New Orleans, a city which owes much of its history and culinary traditions to Spain and particularly to the Canaries.
According to St Bernard Parish Historian Bill Hyland, 'John Besh was introduced to the community by his good friend the late Leroy Phillips, husband of our Vice President, Joan Phillips. Besh stood solidly alongside us in our recovery from Hurricane Katrina and had supported Los Isleños Society and Museum Complex for many years prior to Katrina. He is a long-standing advocate of the commercial fisheries interest in St. Bernard and Louisiana.'
Hyatt Regency Hotel
The restaurant is located in the Hyatt Regency Hotel which has undergone a $250 million refurbishment programme resulting in strikingly sophisticated guest rooms and amenities. An emblematic symbol of the New Orleans skyline for over 30 years, this establishment reopened in the autumn following a five year rebuilding programme due to the damage suffered during Hurricane Katrina.
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«Treat the Earth well. It is not a gift to you from your parents it is on loan to you for your children.» Kenyan proverb
Lanzarote in History.
Welcome to Lanzarote, and welcome to Lancelot, the island's quality publication. Now in our 28th year, we are the oldest English-language magazine in Spain. The comprehensive guide to the island and all the Tourist Attractions of the Cabildo Island Government most certainly fulfil our slogan "Where to Go" What to See" and "How to Get There."
One of the major features in this issue is about the important contribution by British authors over several centuries to the history of Lanzarote. As early as 1583, less than a century after Spain annexed the Canary Islands, a textile merchant from Bristol who had settled on Tenerife, wrote a book about all seven Canary Islands which included two paragraphs about Lanzarote. This was followed in 1760 by Scottish seaman George Glas, who translated into English a chronicle of the arrival of the Normans on the island written in 1402 as well as a history of the ancient inhabitants of Lanzarote. His book, translated into Spanish by La Laguna University, Tenerife, is still in use as a source of reference by historians.
The third major work was published in London in 1887 and is by English author Olivia Stone. She wrote a 450-page two-volume travelogue about her six months stay in the Canary Islands which contains 70 pages about Lanzarote. Her work has likewise been translated into Spanish and is used in Canarian schools and universities. Olivia Stone is the first writer in any language to recommend the region as a holiday destination and the first wave of tourists from England arrived in the Canary Islands following the publication of her book. Being a good housewife, Ms Stone totted up the entire cost of her 6 month trip: £183 9s.7d.!
Having enjoyed your holiday you may wish to buy a holiday-cum-retirement home on an island with 12 months a year sunshine located only a few hours from the UK, Ireland and the rest of Europe. You can't go wrong! If you need time to think it over stay in touch with Lanzarote by mailing us the subscription form on page 93 and join fellow readers from all over the world. We publish quarterly, the next issue is out 1 March. Happy New Year, have a wonderful holiday and adiós till next time.
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