Spanish PP leader says taxes boost investors to Portugal
The Spanish party (PP, in the opposition) considered this Monday “a mistake” to increase some impulses in Spain, which is “a leading impeller” for others, such as Portugal.
For Alberto Nuñez Feijóo, it is a “big mistake” telling “Spanish investors and patrimony” that in Spain “they are not welcome and can go to Portugal, where they are well received”.
The opposition leader spoke in Cáceres, in the region of Extremadura, at the XXV Congress of the Family Business, where he made these statements regarding the new fiscal package announced Thursday by the Government of Spain, followed by the socialist party (PSOE).
For Feijóo, unlike the Spanish socialists, the Portuguese “are right”, in a country with a tax on shares, inheritance and patrimony and environmental regimes plus minor changes.
According to the PP leader, the Portuguese prime minister, António Costa, is a social democrat, but the Spanish prime minister, Pedro Sánchez, is not.
Feijóo, who last week had already praised Portuguese fiscal policy, said that the fundamental thing in a country is to have companies, which cannot be stigmatized.
The Spanish Government announced a tax package that Thursday included in the IRS for low and medium incomes a new temporary tax on the great fortunes.
The 2 proposals on the value of the taxpayer, which 2 are IR taxes, which are IR, which are RI, which are RI, which are the amount of income tax, which today are represented by IR, which are IR, which represent the income value, which today are represented by IR. Montero.
In parallel, there will be an increase in the IRS on capital gains and other gains resulting from investments, 2 or 200,000 euros greater than them.
The level of Spanish companies, year tax reduction for the smallest, which invoice less than one million euros, which the Government expects to cover around 400,000.
On the other hand, the creation of a new “solidarity tax” on the great fortunes, over three million euros, for two years, in 2023 and 2024, which the Spanish executive with the need to finance the response to the crisis generated by the war in Ukraine and inflation.
The wealth tax joins other extraordinary ones previously announced, to tax banking and companies in the energy sector for two years, with the same purpose of finance measures to respond to the current crisis.
The level of consumption, the package includes the reduction of VAT on feminine hygiene products, from 10% to 4%.
Among the tax hikes and cuts announced today, the Spanish Government estimates a positive net revenue for the State of 3,114 million euros over the next two years, which will result from “a more financial model” of distributing effort across the fair.
Feijóo, who criticized today just a tax package to increase revenue by 3,000 million euros, and reiterated proposals for IRS benefits to cover income 40.00 euros up to and lower VAT on more food.
The PP leader defended that “the obsession of economic policy must be growing”, giving confidence to companies, and asked for “care” in the face of a “disorbitant debt”.
Spain has witnessed in recent days a “fiscal war”, with regional governments and tax abolitions to which the national executive responded with this tax package and the creation of the temporary wealth tax.
This new tax had already been advanced on the Socialist Government in response to government announcements defined by the PP to end or reduce by 50% the tax above 700 thousand euros (300 thousand euros excluded from permanent housing), and which is a revenue from the autonomous regions.