January 22, 2021

The Government will raise taxes on businesses by 3,566 million

The Government will raise taxes on businesses by 3,566 million


MadridUpdated:

The Budgets for 2019 agreed by the Government of Pedro Sánchez y Podemos and shelled this Monday by the Executive contemplate an increase of tax collection of 5,678 million in taxes and fight against tax fraud to cover an increase in public spending of more than 5,000 million. The figures were detailed by the Minister of Finance, María Jesús Montero. The bulk of the increase in the collection of the tax increase falls on the rise to companies, which must pay 3,566 million more in taxes next year.

Only the tax increase Companies, which will set a minimum rate of 15% for large companies and 18% for banks and oil companies, will enter 1,776 million euros, while the reduction for smaller SMEs from 25% to 23% will subtract 260 million. As for the tax on financial transactions will enter 850 million and the call «Google rate» will raise 1.2 billion, according to the estimates of the Treasury. Thus, the companies will support 73.5% of the increase of the tax collection derived from the new tax increases.

Otherwise, the increase of IRPF to those who earn more than 130,000 euros in the income from work and savings from 140,000 euros will enter 326 million, the new environmental taxes that will be created will raise revenues by 670 million and the increase in property taxation will be 339 million. The reduction of VAT on feminine hygiene products it will be 18 million and that of veterinary services will be 35 million. The Government also trusts a good part of the increase in revenues, in particular 828 million, to a new anti-fraud plan the fight against fraud that the Government will present shortly as a draft bill.

The accounts for the next fiscal year amount to 5,678 million of higher revenue (of which 4,689 are from the State and have an impact on the Budgets, the rest of the communities and Social Security), to which 6,413 million will be added due to the evolution of the economic cycle. In total, the increase in revenues will be 5.7%, to 11,724 million. With this the Government trusts to compensate the increase of the expense, which will be 3.2%, to 5,230 million euros. "These figures show the commitment to reduce the public deficit," Minister Montero reiterated.

Spending on pensions and the minimum wage

The impact of the spending measures is estimated at a greater disbursement of 5,098 million, of which, according to the Treasury, 1,992 come from the State and therefore have an impact on the ceiling of expenditure, while the rest come from Social Security and the autonomous communities. However, the greater expense is the result of re-valuing pensions according to the CPI, which the Executive estimates at 704 million, and raising minimum and non-contributory pensions (384 million), although This figure does not include the subsequent consolidation of this higher payment. In addition, improving dependency will cost 515 million more.

For its part, the increase of the minimum interprofessional salary (SMI) to 900 euros a month will cost 340 million, while recovering the subsidy for unemployed over 52 years will cost 323 million. Raising paternity leave from 5 to 8 weeks will impact 300 million euros and guarantee Social Security fees for non-professional carers 315 million.

The new housing policy of the Government will imply an increase in spending of 173 million, while the energetic about 400 million. To this we add 536 million in the increase of scholarships, 50 for school supplies, 25 million in aid for the cafeteria, 330 for financial aid and improvements in nursery schools, 273 million in resources to promote science and 20 million more for the Pact against gender violence. Culture and cinema will absorb 20 million euros more.

.



Source link