Latest news with #Commission
Local Spain
an hour ago
- Business
- Local Spain
EU slams Spain for taxing non-residents on theoretical property earnings
The European Commission has said that it is "discriminatory" for Spain to tax non-resident foreigners on the value of their Spanish homes even if they don't earn income letting them out. According to Brussels, the non-resident tax rule violates the fundamental principles of the European Union, including the freedom of movement of workers and capital. The commission has demanded that the Spanish authorities modify their non-resident income tax (IRNR), specifically when it comes to real estate income. Spanish law states that non-fiscal residents have to pay tax of up to 2 percent of the cadastral value of their Spanish homes, even if they make any rental income from them. This 2 percent of the cadastral value would be 1.1 percent if the cadastral value has been revised within the last 10 years. The Spanish Treasury is essentially just charging non-residents a tax for theoretical income, even if they are not making any money from renting out their second home while not using it. However, this rule also affects Spanish residents who have a second home in Spain. For example, a Spanish fiscal resident who has their habitual residence in Barcelona but has a second home in Málaga would pay the aforementioned tax on the latter, even if they didn't make any money from it while not using it. Therefore, some commentators in Spain have said that the tax is not prejudicial at all for non-tax residents. An unfair tax for everyone perhaps, but not discriminatory towards non-residents or foreigners per se. The reason why Brussels may consider it discriminatory for non-residents with second homes in Spain is perhaps the fact that these people presumably pay any income tax derived from letting it out any of the properties they own in their own country of fiscal residence. There's also the fact that in most cases their Spanish home will be their habitual residence during the periods they spend in Spain, and in many cases their one and only Spanish property. The EU believes Hacienda's non-resident tax on theoretical earnings is incompatible with the Treaty on the Functioning of the European Union (TFEU) and the Agreement on the European Economic Area (EEA). Specifically, the Commission invokes Articles 45 and 63 of the TFEU, which guarantees the free movement of workers and capital. It also cites Articles 28 and 40 of the EEA Agreement, which provide similar guarantees for countries in the extended economic area that are not part of the EU, such as Norway, Iceland, and Liechtenstein. They argue that this tax could discourage non-EU citizens from investing or temporarily moving to Spain and creates a barrier to the freedom of movement. The Commission has urged Spanish authorities to correct the situation within a maximum of two months. If the EU find the response does not solve the problem though, they may consider starting further proceedings at the European Court of Justice. Whatever happens, it certainly indicates what could happen to the Spanish government's plans to introduce a 100 percent property tax on home buyers who reside outside of the EU, a proposed measure to help alleviate the current housing crisis. The so-called 'supertax' suggested by Spain's ruling Socialist party was officially presented in a draft proposal in the Congress in May. The text confirmed that the 100 percent would be applied to the taxable base or value of the property itself, not on the property transfer tax. This would effectively double the price of the property for these buyers. The document specified that it would be a 'State Complementary Tax on the Transfer of Real Estate to Non-Residents of the European Union'. This suggests that EU residency determines this extra property tax, rather than EU citizenship. Incredibly, if a Spanish citizen who lives in the UK wanted to buy a holiday home in Spain, they would be charged this 100 percent tax. In any case, this headline-grabbing 100 percent property tax would have to get approval in the Spanish Parliament, where Sánchez's PSOE have a weakened position, and there's every likelihood that Brussels could once again have the last word.
Time of India
2 hours ago
- Entertainment
- Time of India
India to organise Yoga Day events in 191 countries on Jun 21: ICCR
India will organise thematic events and programmes in 1,300 cities across the globe to mark the International Day of Yoga on Saturday, showcasing the nation's ancient tradition and soft power. The Indian High Commission in Pakistan is also organising a yoga event in Islamabad on the occasion, according to a statement issued on Friday by the Indian Council for Cultural Relations ( ICCR ), the cultural arm of the Ministry of External Affairs. "On the 10th anniversary of International Day of Yoga, we will practically cover every country in the world where yoga events are being organised. In some countries like the US, we are hosting multiple events across various cities," ICCR's Director General, K Nandini Singla, was quoted as saying in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top-Podologe sagt: Das hier wirkt bei Nagelpilz wie ein Hochdruckreiniger Gesundheitswoche Mehr erfahren Undo The ICCR will organise various yoga events and programmes in 191 countries on June 21 to mark the IDY, with more than 2,000 events to be hosted at 1,300 locations, covering multiple cities in various nations, it said. Additionally, the ICCR is also hosting ' Yoga Bandhan ', a signature event of IDY 2025, where 17 yoga gurus and practitioners from 15 countries, including Brazil, Argentina, Russia, China, South Africa, Malaysia, Sri Lanka, Indonesia, Singapore and South Korea, will lead the Yoga Day events across India, Singla said. Live Events In Delhi, yoga events will be led by these foreign yoga gurus at Jantar Mantar, Qutub Minar, Purana Quila and Humayun's Tomb, while similar 'Yoga Bandhan' programmes will be organised at iconic locations in Lucknow, Ayodhya, Varanasi, Jaipur, Jodhpur, Bhopal, Gwalior and other cities, she added. Just as yoga is a 'union' between ' Atma' and 'Paramatma', 'Yoga Bandhan' seeks to "unite India and the world', the ICCR's DG said. "It is a matter of great satisfaction that yoga has come full circle. Yoga went from India to these countries. People abroad learnt yoga, and today they have come back to India to lead yoga demonstrations by Indian people in India," Singla added. The theme for IDY 2025 is 'Yoga for One Earth, One Health'. This theme echoes a vital truth about the interconnectedness of health, sustainability, and the environment, aligning with India's "One Earth, One Family, One Future" vision highlighted during its G20 presidency, the ICCR underlined. The ICCR DG noted that preparations for IDY- 2025 started several months ago. "To create awareness about IDY, we did various programmes to mark the 100-day countdown, 75-day countdown, 50-day countdown and 25-day countdown events. Globally, our embassies and consulates hosted special yoga events in the run-up to the IDY," she said. India's 37 cultural centres in different countries also organised numerous yoga programmes during the last 100 days, Singla added. Regarding yoga's popularity in foreign countries, she said, "prominent personalities like MPs, legislators, police officers and judges are also learning yoga abroad". Many people in foreign countries are adopting yoga in their daily lives to stay healthy and beat stress, Singla said, adding that yoga has "truly become a global movement".
Euronews
3 hours ago
- Business
- Euronews
EU shuts out Chinese medical suppliers from European market
The European Commission has formally introduced restrictions previously reported by Euronews in response to what it describes as discriminatory barriers imposed by China against European medical device manufacturers. Following a detailed investigation, the Commission found "clear evidence" that China had been unfairly blocking EU-made medical devices from its public procurement market. This marks the first countermeasure taken under the International Procurement Instrument (IPI), which came into force in August 2022 to promote fair access for EU firms to procurement opportunities outside the bloc. 'Our aim with these measures is to level the playing field for EU businesses. We remain committed to dialogue with China to resolve these issues,' said Trade Commissioner Maroš Šefčovič. Under the new rules, Chinese companies are barred from bidding on public contracts for medical devices in the EU single market that exceed €5 million. Additionally, successful bids must contain no more than 50% of inputs originating from China. According to the Commission, the measures are proportionate to China's own restrictions and are designed to ensure the continued availability of critical medical equipment for EU healthcare systems. Exceptions will apply in cases where no viable alternative suppliers are available. The Commission pointed out that the decision aligns with international trade obligations, including those under the World Trade Organization (WTO), noting that the EU has no binding procurement commitments with China. EU-based medical device companies have long struggled to access China's procurement market, despite China being one of the bloc's largest export destinations for such products, accounting for 11% of exports in 2022. The Commission's investigation focused on China's government procurement law, which enforces a "Buy China" policy, requiring public institutions to prioritise domestic products and services. The probe identified several barriers faced by EU firms, including opaque approval processes, discriminatory certification practices, ambiguous national interest clauses used to exclude foreign suppliers, and unsustainable pricing requirements. According to a 2025 Commission report, 87% of public procurement contracts for medical devices in China were subject to exclusionary and discriminatory practices against EU suppliers. The new EU measures come at a delicate moment in EU-China relations, which are undergoing a cautious diplomatic reset. Both sides have intensified efforts to manage longstanding disputes amid shifting global dynamics, including the aftermath of the Trump-era trade wars and ongoing US-China tensions. A key milestone in this renewed dialogue is the upcoming EU-China Summit, now scheduled to take place in Beijing in the second half of July 2025. Meanwhile, reciprocal actions continue to define the trade relationship. China has extended its anti-dumping investigation into EU pork imports by six months, while the EU recently imposed tariffs of up to 45% on Chinese electric vehicles (EVs), reflecting a strategic pattern of targeting politically sensitive industries ahead of high-level negotiations.
Indian Express
6 hours ago
- Science
- Indian Express
CAQM seeks innovative ideas, tech solutions to combat air pollution in Delhi-NCR
The Commission for Air Quality Management (CAQM) in NCR and Adjoining Areas has issued a request for proposals (RFP) inviting scientists, researchers, academicians, non-government organisations, community-based organisations, consortia or individuals to submit innovative ideas and technological solutions for the prevention, control and abatement of air pollution in the National Capital Region (NCR). Proposals must be coordinated by an academic, research or scientific institution recognised by the Government of India, and are to be submitted by July 31, 2025. Eligibility for submission is confined to scientists or experts working through government-recognised institutions; non-governmental organisations, community-based organisations, consortia and individuals must submit their proposals via such institutions. Under Sections 12(2)(vi) and 12(6)(c)(iii) of the CAQM Act, the Commission is empowered and mandated to carry out research and development on air pollution. In line with this mandate, the RFP has outlined a series of thematic areas on which applicants should focus. These include both exhaust and non-exhaust vehicular emissions; industrial emissions such as those from thermal power plants; dust generated by construction, demolition, roads and open areas; agricultural stubble burning; municipal solid waste, open-burning and biomass-burning; household emissions; dispersed sources; and the identification and mitigation of pollution hotspots. The proposals must also encompass the development and assessment of the most effective policies, technologies, products, and processes for the abatement of air pollution across these sectors. The projects will receive financial support for a maximum duration of three years, under both recurring heads (for items such as personnel and consumables) and non-recurring heads (for capital equipment and infrastructure). Budget details and a clear three-year work plan should be included in each submission, the Commission stated. The submissions will be evaluated by the Project Evaluation and Appraisal Committee constituted by the Commission, with a focus on outputs and outcomes and criteria, including implementability, replicability, and scalability, it said.
New Straits Times
7 hours ago
- Business
- New Straits Times
EU bars Chinese firms from most medical device tenders
BRUSSELS: The European Union will bar Chinese companies from participating in EU public tenders for medical devices worth €60 billion or more (US$68.90 billion) per year after concluding that EU companies are not given fair access in China. The measure announced by the European Commission on Friday is the first under the EU's International Procurement Instrument, which entered into force in 2022 and is designed to ensure reciprocal market access. The new restrictions are likely to increase tensions with Beijing, already inflamed by EU tariffs on China-built electric vehicles, Chinese measures against EU brandy, and curbs on exports of rare earths that the EU wants resolved by an EU-China summit in July. The Commission said on Friday that it would exclude Chinese companies from EU government purchases above €5 million. An EU official said, guided by figures from Medtech Europe, the EU medical technology market was worth some €150 billion in 2023, with public procurement accounting for a 70 per cent share. Contracts of over €5 million were only four per cent of tenders, but made up some 60 per cent by value, the official said. Successful bids will have to ensure they include no more than 50 per cent of medical devices from China. If there are no alternative suppliers, the exclusion will not apply. EU members backed the plan earlier this month. The Commission has previously said it found "clear evidence" that China favoured Chinese devices for hospitals and that its tender conditions led to abnormally low bids that profit-oriented companies could not offer. A Commission official said the ban would cover medical equipment including imaging equipment, artificial body parts and medical clothing. China's commerce ministry has previously described the proposed EU measures as "protectionist", urging the EU to be fair and transparent and for both sides to resolve differences through cooperation and dialogue. The Commission said China had not proposed any corrective action to remedy the situation, but an agreement was still possible.
