Sat. Jan 19th, 2019

The 2019 Budgets include the highest tax increase since 2012

The 2019 Budgets include the highest tax increase since 2012


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MadridUpdated:

The Government has delivered to the Congress of Deputies the Budgets of 2019, those that will decide the course of the legislature and whose failure can provoke an electoral advance. With these wickers, the baccountant for 2019 includes numerous winks to Catalonia, with 200 million investment to the community to comply with the Statute, in addition to a tax increase that will be the highest approved since 2012, when Spain was on the verge of sovereign bailout and the deficit exceeded 9% of the GDP.

In this way, the fiscal pressure rises from 34.5% to 35.3% of the GDP, the Minister of Finance, María Jesús Montero, explained at a press conference. This supposes the biggest increase since 2012. The main ones will be the rise of diesel, which will report 670 million euros which will result in the collection of the hydrocarbons tax hitting a high of 21.3%. The hike will leave out the subsidized diesel for farmers and others as well as the professional diesel regime, which can be accommodated by taxi drivers and taxi drivers, although many workers are not within this system.

The increase of IRPF will suppose a rise of two points to the income from work exceeding 130,000 euros to 47%, which will be 51% for those who enter more than 300,000 euros. This will result in an increase in revenues of 328 million, to which 339 will be added by the 1% increase in the Property Tax to the last installment of the tariff.

The big enterprises they will pay 1,776 million more for the hardening of the exemptions for repatriation of benefits from abroad, as well as the fixing of a minimum rate on a tax base of 15% to those who bill more than twenty million, which will be 18% to banks and oil companies. The 224 socimis that exist in our country will pay 10.5 million euros for the establishment of a rate of 15% in Societies to the undistributed profit, We can demand that is added to the accounts.

Higher social spending

To this is added an increase in social spending that will be the largest since 2009, with the Government of José Luis Rodríguez Zapatero. In this way, the disbursement grows by 3.1% until the 365.520 million euros, of which 57.3% belong to social spending, which climbs by 6.4%, climbing to 209.510 million.

Raising the paternity benefit from 5 to 8 weeks will cost 825 million euros and the game to Dependency grows 60% up to 2,232 million, in the largest increase in decades, scholarships grew by 10% to 1,620 million and the amount allocated to housing expanded by 41% to 679 million. This last point includes the plan to make available 20,000 homes with affordable prices, which will cost 137 million.

But the big elephant in the room is supposed to be spending on pensions, which grows by 6.2% to the impressive figure of 153,864 million, 42% of the Budget, which includes the linking of benefits with the CPI, the 3% increase in minimum pensions and the increase in the widow's regulatory base from 56% to 60%. All this will benefit 9.3 million pensioners. With Social Security in the red, the State will approve, as it has been doing for three years, a credit of 15,453 million to the system so as not to empty the "piggy bank".

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