The shareholders of a sicav will need a minimum stake of 2,500 euros to receive tax benefits

The

has advanced this Wednesday that

established

', such as requiring shareholders a minimum participation of 2,500 euros, for which Competences will be granted to the Tax Agency to verify said requirement.

This is what he has advanced during his appearance before the Congressional Budget Committee to report on the 2021 General State Budget (PGE) project, in which he has detailed that this measure will not be included in the new public accounts, but in other separate laws, which will include other measures such as the minimum rate of 15% for undistributed profits of the 'socimis'.

Bardón explained that the PGE and the income and expense forecasts incorporate the

derived from the health and economic crisis generated by the Covid-19 pandemic, and has ensured that an "expansive approach" is adopted to promote recovery economical.

Likewise, it has detailed that this year non-financial income will reach 223,208 million, 7.3% less.

The PGE project for 2021

14.5% more.

Tax revenue will add up to a figure of 222,107 million euros, which represents an increase of 13% compared to the advance of liquidation forecast for this year, after falling 7.6% this year due to the economic crisis.

THE

HIGH INCOME AND LARGE COMPANIES

Regarding

, he has argued that they are aimed at "high income and large companies" and are of "limited scope", without prejudice to the fact that a committee of experts will be in charge of reviewing the figures to undertake in the future a comprehensive tax reform, because "you cannot have a first-class welfare state with third-rate income."

Among the novelties, he explained that

for income from work of more than 300,000 euros, raising the marginal rate two points to 47%, and three points for capital income of more than 200,000 euros , up to 26%, which will affect a "reduced" number of 36,194 taxpayers (0.17%) so that "those with the highest income contribute to a greater extent", helping to reduce the deficit and improve progressivity.

He has argued that personal income tax measures are aimed at very high incomes and with great savings capacity.

In addition,

individual

to 2,000 euros the maximum contribution, while the joint reduction limit (participant and company) is raised from 8,000 to 10,000 euros in company plans, thereby boosting contributions business and the "regressivity" of these benefits is corrected.

Likewise, the current limits of the self-employed modules regime are extended.

The

also

up to a rate of 3.5%;

and the exemption in Corporation Tax on dividends and capital gains in subsidiaries is limited to 95%, which affects 1,739 companies (0.12%), except for companies with a turnover of less than 40 million during the first three years.

According to Bardón, the measure will affect "fundamentally large companies."

In turn, the tax on insurance premiums is increased from 6% to 8%, although he has remarked that it will continue in the lower part of the EU and that for third-party insurance of a car it will mean 6.20 euros more per year and for home insurance, about 3.98 euros per year.

"

, as they are in proportion to the premium," he added.

In addition

on sugary and sweetened beverages

as it is a "social commitment to rationalize responsible consumption in children and young people" and combat unhealthy diets.

The limits for applying the simplified and special regime of agriculture, livestock and fishing in VAT are also extended.

In special taxes,

that causes "the highest emissions of polluting gases"

, with a rise of 38 euros per 1,000 liters and an

per liter.

However, the taxation of diesel for professional use and subsidized diesel is unchanged.

He has argued, in turn, that the impact of the rise in diesel will be "very moderate" in the middle pocket and is aimed at higher consumption of high-income and large-displacement vehicles, since the calculations suggest that 50 liters of refueling it will mean 1.9 euros on average, while in an average consumer, it will be 3.45 euros per month.

In addition, the difference between the discount for diesel and gasoline is 93 euros per 1,000 liters and Spain is urged to approach the European average.

With all these changes, it

, 0.8% of total income, so the distortion on the economy "is minimal, if not zero", and 2,135 million are expected in 2022.

PLASTICS AND WASTE

To this will be added changes included in other laws, with 4,223 million more tax revenues, such as the 'Google' and 'Tobin' rates, the new tax on single-use plastic containers and a new one on waste or the law to fight against fraud and other measures.

On the '

' additional requirements will be established to benefit from their special regime, such as requiring shareholders

and the AEAT is given power to verify the requirement.

For the 'socimi' a 15% tax will be established for undistributed profits.

In 2022, the new measures will contribute 50 million.

He has detailed that the

and now the regulations are being developed;

the tax on single-use plastics is in consultation and the waste tax is "very worked."

On the latter he has pointed out that it derives from the modification of a directive that urges that in 2035 only 10% of municipal waste generated end up in landfills and there is a "problem" in Spain due to the variety of regional taxes and waste tourism Therefore, a national strategy will be guaranteed in dialogue with the Autonomous Communities on its management and collection.

He has also referred to the new Law to combat tax fraud, which will contribute 828 million, which limits cash payments, modifies the land to appear on the list of 'defaulters', among others.

TAX REFORM

The Secretary of State for Finance has reiterated the

, in parallel with the technical work seeking a multilateral consensus postponed in mid-2021.

At this point, it has indicated that in 2019 Spain was 7.2 points behind the Eurozone in the

addition to the fact that the Budget Plan contemplates a pressure of 37, 7% of GDP this year and 36.8% in 2021, still far from the rest of the countries.

With the work of experts to be appointed, Bardón has pointed out that a "much fairer" tax system is being sought focused on "high incomes and large assets" that incorporates environmental commitment, adapts to the digital economy of the 21st century and I encourage healthy lifestyle habits.

When it is possible to "measure" the economic "damage" of this year and the recovery arrives, the rebalancing plan will be considered as it is now "difficult" due to the different effects of the crisis, he added.

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MacroeconomicsSpain marks record fiscal pressure amid pandemic as EU majors lower taxes

Macroeconomics: Four Recovery Plans with Tax Cuts ... and Spanish

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