No warm welcome

POSTED: 07/28/16 4:21 PM

That the PPA plan to introduce a 10 percent flat income tax rate combined with a 2.5 percent real estate tax would not meet with a warm welcome from other political parties is not surprising.

The effects of these measures are unclear; it sounds nice for top earners who may wonder up to what point the real estate tax will come back to haunt them.

Without a proper study this is not something to be introduced overnight. The introduction of a real estate tax requires legislation and we all know how fast that process goes.

There are many aspects to consider and it is almost a given that tax assessments will lead to endless court battles that in turn will take a bite out of any expected revenue.

With the USp already a declared opponent of this tax, it seems unlikely that the PPA-proposals will ever become a reality.

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