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Treasury will approve a tax deduction to promote equality in companies

The Minister of Finance announces that it will limit the tax benefits to large companies that page less than 15%

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Treasury will approve a tax deduction to promote equality in companies

The Minister of Finance, María Jesús Montero, announced this morning that he is working on a tax reform to update tax system to "a 21st century society". And among measures that decks out is a deduction to promote equality in companies. He has also advanced that he wants to limit deductions to large companies that are taxed below 15%, which will retake Google rate and has ruled out raising income tax.

More information
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  • Montero wants big companies to contribute to pay pension rise
  • Hacienda prioritizes in budgets of 2019 to reinforce welfare state
  • Hacienda studies to transfer competences on dependence to mayors

During an interview in SER Network, minister explained that it aims to "respond to challenges of technology, globalization, collaborative economy, those areas of activity that have not found fit in traditional taxation and are Provoking unfair competition for traditional sectors, such as trade, and are sectors that have to contribute more to redistribution of income and public services of citizens. "

Montero, who before Ministry was finance advisor at Junta de Andalucía, one of territories that has advanced in fiscal consolidation, has announced: "Along with technological taxes, banks, environmental and those that promote Equality, which is also an area we are exploring to try to make taxation contribute to feminice of society. "So," said minister, "We are studying deductions for companies to have an effective equality policy, to allow for real conciliation and incorporation of women into positions of responsibility, which is perhaps great gap that has Business Sector ".

Technology tax

The minister has also announced that it will launch in coming months technology tax, popularly known as Google rate, a tribute that had already anticipated previous executive to help pay pensions. It is a new tax figure on activity of large technological multinationals in country. The previous executive had calculated that it could enter some 600 million euros this year and anor 1.5 billion next. "The government intends to bring technology rate to Congress of Deputies, to allow that area of activity to contribute, because it is not contributing same as or sectors," he emphasized.

Montero has also advanced that will establish a minimum rate of corporate tax from a certain level of benefits. "If, for example, we are talking about having to pay around 15%, no deductions can be applied later. The reality is that contribution made by companies, and especially large companies, which are those that have room to contribute, oretical type is not adapted (25%) to real that comes after practicing a whole architecture of deductions that have a great Complexity and make at end real average type of 12%. " The Minister emphasized: "Our interest is that re is a minimum rate from which added deductions cannot be applied."

Limit deductions to large companies that page less than 15%

The owner of Treasury has also ensured that he works in a banking tax, one of great proposals of PSOE when he was in opposition. "This tax would be very novel," he said, "because it does not exist in European environment." And would have a finalist character to help finance Social security, which suffers from a estructual deficit of about 16 billion euros per year for payment of pensions. "Spanish banking knows all initiatives envisaged by PSOE; Some also by PP. We want you to be understanding that we are going to do something reasonable and progressive and that y can contribute because re is room to do so ":

Regarding environmental taxes, minister said: "More than a eagerness fundraiser, it is a question of designing a policy that is deterrent with aggressive behavior with environment." And that is why it works to fix new levies on activities or polluting products from hand of Ministry of Ecological Transition, directed by Teresa Ribera. Among measures being studied is equating of diesel tax with gasoline.

The minister has specified that he will have to hurry to design all this battery of tax measures because some are newly created, se are new taxes, which can not go in law of State general budgets of 2019, which can only collect Changes on taxes already in force. So new taxes require a different procedure.

More spending roof

This fiscal impulse will allow for more revenue and will refore allow Government of Pedro Sánchez to increase spending ceiling, non-financial expenditure limit of ministries, first figure from which budgets of following year are built. "It is a matter of se revenues restoring some of social spending that was lost during crisis, initiating new projects and boosting economic activity," he said.

"It would be good and convenient for each (self-employed) to be able to quote depending on what he is earning. But just as we are talking about getting new income, we have to intensify fight against tax fraud, "Montero said when asked about self-employed.

Shielding welfare state

Montero has recognized that it is not possible at this time to address a comprehensive reform of financing system. However, it has advanced that "model improvements will be produced". "We are trying to make it more comfortable for transit of stability Path, which have been deficits with city councils, and on or hand, that y can have more resources to be able to allocate to health, to education to dependence, to what They are pillars of welfare state. "

"The debate is not so much about how much funding is that each of adnministraciones have to have, if not how to shield financing of certain competencies." He's remarked.


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