|
Dear John,
Benjamin Franklin once spoke of the certainty of death and taxes.
Unfortunately, the people of Spain had to deal with a combination of the two.
For decades, Spain levied harsh inheritance taxes, demanding exorbitant payment for anyone hoping to inherit a passing family member’s property.
Because of the tax bill, Spaniards were often better off declining an inheritance property than accepting it.
Inheritance quickly became synonymous with financial ruin.
But in 2015, Roxana Nicula and Juan Pina decided it was time to take the inheritance tax out with the trash.
They founded the Foundation for the Advancement of Liberty (Fundalib) with a focus on bringing down Spanish taxes, especially inheritance taxes.
With support from Atlas Network grants, Fundalib began a multi-year effort that culminated in over 30 policy wins in 13 tax territories.
Fundalib led tax reforms that abolished or significantly reduced the inheritance tax in most tax territories, benefiting approximately 63% of the entire Spanish population.
For their achievements, Fundalib has been named a finalist for the 2024 Templeton Freedom Award, given to the Atlas Network partner that delivers the most exceptional and innovative contributions advancing freedom and free enterprise.
Learn more about Fundalib’s achievements in our new article—and see how they delivered tax relief that would make Benjamin Franklin smile.
|
