Montero approaches the 'great' tax reform: its approval could arrive next year

The tax reform addressed by the Ministry of Finance and Public Function could arrive earlier than planned according to what was advanced this Monday by Minister Mara Jess Montero, who has opened the door to approve it “throughout the next year 2022 or in 2023.”

In statements to RTVEMontero has confirmed that “there are some substantial transformations of the fiscal figures that will require a specific law.” Currently, a committee of 17 experts is analyzing the Spanish tax system and must present its conclusions to the Executive before the February 28 of next yearso that it addresses a series of fiscal adjustments – up or down – with the aim of promoting an effective, solid and progressive system that allows to sustain and even strengthen the Welfare State.

As confirmed by the minister herself, it will not be necessary to wait for the General State Budgets of 2023 to address some measures proposed by the committee of experts.

The 2022 PGE include few tax measures, including the minimum rate of 15% in Companies

The General State Budgets (PGE) for 2022 incorporate few fiscal novelties. The most important is the establishment of the minimum rate of 15% for companies that invoice more than 20 million euros, with which the Government hopes to raise about 400 million euros.

The other two fiscal novelties of the PGE project for next year are the freezing of the module system by which a large part of SMEs and self-employed people pay taxes and the reduction of individual contributions to pension plans with the right to deduct, which is offset by the increase in contributions to business plans, although the total amount of 10,000 euros per year is maintained as a maximum.

Regarding the commitment with Brussels, this is “very clear”, Montero has defended to point out that despite the suspension of fiscal rules this year and next, Spain will reduce over the next few years with fiscal measures and through growth sustained deficit and debt in the economy, without reducing public spending.

“The growth of Spain is sharp and solid and it is translating into greater opportunities with this Budget, “said the minister, who highlighted the special attention paid by public accounts for the next year to young people.

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