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Spain Wants A More Efficient Tax System- But Will It Be Socially Equal?

MADRID | By Julia Pastor | Spain could cook a historical fiscal reform to simplify complex patchwork of tax rates at national and regional level- there are more than 1,000 tax exemptions, even more than in the UK, which was the European country with the highest freedom from taxation-, and increasing revenue collection efficiency. Spanish market watchers are looking forward to see reforms in the 444 pages report presented to the cabinet by an experts committee. However, critics fear that social policies, especially those focused on employment, quality of labour force or further specialization, will be ignored. As the rest of euro zone’s southern countries walk over the same path of Spain’s, a real harmonized fiscal union still seems too far.