High taxation in Spain hinders households from investing their savings
The higher taxation borne by investments in Spain compared to other comparable countries penalizes and hinders households from investing their savings. The effective rate borne on various products analyzed – stocks, deposits, funds… – rises to 22.3%, eight points higher than the 14.4% of the European Union, according to a report by the Institute of Economic Studies (IEE) and the Spanish Association of Financial Advisors and Planners (EFPA).