Connect with us

Trending

Spain plans 100% tax for homes bought by non-EU residents

Published

on

Spain plans 100% tax for homes bought by non-EU residents © Getty Images
Spread the love

Spain is planning to impose a tax of up to 100% on properties bought by non-residents from countries outside the EU, such as the UK.

Announcing the move, Prime Minister Pedro Sánchez said the “unprecedented” measure was necessary to meet the country’s housing emergency.

“The West faces a decisive challenge: To not become a society divided into two classes, the rich landlords and poor tenants,” he said.

Non-EU residents bought 27,000 properties in Spain in 2023, he told an economic forum in Madrid, “not to live in” but “to make money from them”.

“Which, in the context of shortage that we are in, [we] obviously cannot allow,” he added.

The move was therefore designed to “priorit[ise] that the available homes are for residents”, he said.

Sánchez did not provide details on how the tax would work nor a timeline for presenting it to parliament for approval, where he has often struggled to gather sufficient votes to pass legislation.

But his government said the proposal would be finalised “after careful study”.

It is one of a dozen planned measures announced by the prime minister on Monday aimed at improving housing affordability in the country.

Other measures announced include a tax exemption for landlords who provide affordable housing, transferring more than 3,000 homes to a new public housing body, and tighter regulation and higher taxes on tourist flats.

“It isn’t fair that those who have three, four or five apartments as short-term rentals pay less tax than hotels,” he said.

Trending

Pascal Dozie, Founder Of Diamond Bank Passes Away At 85

Published

on

Spread the love

The founder of the defunct Diamond Bank Plc, Pascal Gabriel Dozie, has died at the age of 85.

According to Business Day, Dozie passed away in the early hours of Tuesday, April 8, 2025.

His death came just a day before his 86th birthday, following a battle with an age-related illness.

Dozie was best known as the founder of Diamond Bank, one of Nigeria’s most innovative financial institutions before its merger with Access Bank.

He served as the bank’s chairman before handing over leadership to his son, Uzoma Dozie.

Dozie is survived by his wife Chinyere Dozie, and five children among other relatives.

Continue Reading

Trending

Security forces foil kidnapping in Katsina, one civilian killed

Published

on

Spread the love

A kidnapping attempt was foiled in the early hours of April 5, 2025, in Gidan Yan Ali, Kurba Village, Kankara Local Government Area of Katsina State, after security forces engaged armed bandits in a fierce gun battle.

Intelligence sources told Zagazola Makama that the assailants believed to be part of a larger criminal network stormed the village around 11:45 p.m., setting corn stalks ablaze and attempting to abduct women and livestock.

Prompt deployment of security personnel led to a swift response, forcing the bandits to flee into the nearby bush.

During the confrontation, a villager identified as 40-year-old Murtala Dayyabu Sidi was shot and killed by the attackers.

The intervention of security forces ensured the safe rescue of the kidnapped women and the recovery of stolen animals, which were returned to their rightful owners.

Investigations into the attack are ongoing.

Continue Reading

Trending

Lagos: Cause of Ijora-Badia explosion revealed

Published

on

Spread the love

Lagos State Fire and Rescue Service has revealed the real cause of the explosion that rocked the Ijora-Badia area of Lagos on Sunday afternoon, injuring no fewer than 15 people.

According to a statement by the Director of the Lagos State Fire and Rescue Service, Margaret Adeseye, the explosion occurred around 4:10 p.m. inside a mini shop stocked with 25kg gas cylinders.

The shop, located within a bungalow that housed 15 self-contained rooms and seven other shops, reportedly had five gas cylinders at the time of the incident.

Adeseye attributed the explosion to the mishandling of gas, which caused a leak that was ignited by a nearby flame.

“It was a case of poor handling of gas products, which unfortunately allowed gas to escape and come in contact with a flame. This triggered the explosion,” she confirmed.

The resulting fire, she said, was promptly extinguished by a team of firefighters from the Sari Iganmu Fire Station, with support from the Lagos State Emergency Management Agency, LASEMA, the Lagos Neighbourhood Safety Corps, and LASAMBUS.

While no fatalities were recorded, 15 persons sustained varying degrees of burn injuries.

Adeseye noted that several victims were treated with first aid on-site, while others were taken to nearby hospitals for further medical care.

She also assured residents that the area has since been secured and normalcy restored.

Continue Reading

Trending