spain tax system

Madrid Gran Via2

Ireland exposes Spain’s closed-mindedness on Wealth Tax

Luis Alcaide | The international press is talking about 100,000 Chinese investors willing to leave part of their capital in Ireland to continue their residence in the country. The attraction is simple: one million euros in investment funds or two million euros in equity investments, with a commitment to maintain them for three years. A stay of one day per year is sufficient. Chinese from Hong Kong and the Republic…


Montero

Tax burden in Spain (42%) reaches historic highs, according to IEE

The Instituto de Estudios Económicos (IEE) pointed out on Tuesday that the tax burden in Spain had reached historic highs in 2022, exceeding 42% of GDP and standing above the EU average (41.7%) for 2021 – the last year for which data are available. “The tax effort, i.e. the tax burden normalised according to income, is already 53% higher than the EU average”, warned the IEE President, Íñigo Fernández de…


jsj3

The Government maintains the Basque quota (6.24%) and secures the PNV’s support for the budget

Although 41 years have already passed since the rate at which the Basque quota to the State was first agreed, there will be no changes for the next five-year period (22-27). The 6.24%, the percentage of Basque funding for the common expenses borne by the central Administration -defence, Royal House, embassies, etc.- is going to be maintained for another five years.This has been agreed in Madrid by the central and…


spain tax collection

Spain, At The Bottom Of The OECD In Terms Of Tax Competitiveness

Spain is amongst the countries with the least competitive tax system in the OECD. This is according to the new edition of the tax competitiveness ranking prepared by the Tax Foundation, in which Spain appears in 34th place out of a total of 38. This position, which represents a loss of two places compared to the 2021 edition and eight compared to 2020, leaves Spain ahead of only Ireland, Portugal,…


Spain elections

Fiscal Storm: The Mountain Gave Birth To A Mouse

Fernando González Urbaneja | The sequence of events is relevant to the outcome and has to do with the electoral confrontation. Behind and at the bottom of this debate or storm there is no doctrine or theory, there are no documents with well-founded proposals, it is just a matter of brushstrokes with ideological pretensions of little flight and quite a lot of trickery.The opposition party, with Núñez Feijóo at the…


Montero

Deceptive Tax Cuts

J.P. Marín-Arrese | The Socialist-run regional governments in Spain face dire prospects in the coming elections next year. High inflation, low growth and rising unemployment weigh heavy on voters’ sentiments against the left-wing coalition governing Spain. So they resort to promising tax cuts as the best recipe to cushion their dwindling support. The Valencia Chairman, Mr Puig, has announced a cut in personal income tax, mirroring the national Opposition leader’s…


Spanish España.

A Decade Of Fiscal Folly

Fernando González Urbaneja | Both the current and the previous government (Rajoy and Sánchez or Montoro and Montero) have earned a page in Spanish fiscal history with the qualification of a confusing, witty and improvisational period. Both governments commissioned reports from groups of experts for a major tax reform. And both reports, of unquestionable technical quality and with interesting proposals, were buried in the drawer of documents to be forgotten….


spain tax collection

Spain Leads OECD In Raising Tax Burden As Government Considers Higher Taxes

Spain is the country of the 34 that make up the OECD in which the tax burden is increasing the most. In 10 years, tax revenues have risen from 31.3% to 36.6% of GDP. According to the latest report published on Wednesday by the Organisation for Economic Co-operation and Development, which brings together the most advanced economies on the planet, the tax burden grew by 1.9 percentage points in 2020…


MorenoBonilla

Andalusia Joins Madrid In The Deflation Of Personal Income Tax And The Abolition Of Wealth Tax

The president of the Junta de Andalucía, Juanma Moreno, yesterday joined the trail blazed by the president of Madrid by announcing he will grant a 100% rebate on wealth tax. He will also deflate personal income tax, with effect from the 2022 tax return, which is the one that will have to be accounted for to the Treasury next year. According to calculations made by the Andalusian government, this tax…


Just Sanchez

Taxes or Fines?

Fernando Gopnzález Urbaneja | Words have meaning. To define well is to begin to understand. The government has announced as the star measure of its economic programme to control inflation a new tax figure called the “windfall profits tax” which, for the moment, will be levied on around twenty energy companies with a high turnover (the figure has not been specified) and on banks in general, which are not many…