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  • DANIEL VIAÑA

    @DanielVianaR

Updated on Friday, 12February2021-01: 55

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  • Taxation Insurers already pass on the increase in Premium tax to customers: it affects "practically all Spaniards"

The

Tobin

Tax or Tax on Financial Transactions, which the entities have already confirmed are impacting on customers;

the increase in VAT on sugary drinks;

the

Google Tax

, a figure that also threatens to fall on the customer;

or the increase in the Insurance Premium Tax (IPS).

The decimated Spanish middle class is suffering at the beginning of this year an incessant increase in taxes as a result of the government's fiscal tightening.

That process that

I know

According to the Minister of Finance, María Jesús Montero, it was not going to affect the aforementioned middle class but that, in reality,

rests on it most of the increase in income pursued

.

The last example is the mentioned tax on Insurance Premiums, a figure that the insurance sector is already transferring to its clients and that affects "

practically all Spaniards

"As the President of Mapfre, Antonio Huertas, pointed out yesterday. During the presentation of the group's results, the executive also criticized the improvisation or, at least, the lack of foresight of the Government."

Caught us contraman

or because it was published practically when the receipts for January were already issued, "he explained. And for this reason, the sector is now" seeing "with the Executive" how to carry out the process. "

The Treasury, for its part, justifies that the IPS "is a tax that had not been updated for 20 years" and that it is still far from the rates in Germany (19%), Italy (between 12% and 21%) or France ( ranges from 9% to 33%).

But the feeling, and Huertas himself put it on two occasions, is that the year after the greatest economic contraction in peacetime "

it is not the right time for its increase

".

Furthermore, its application to the client is covered by law.

"The tax on Insurance Premiums must be paid in full by the insurance entities on the people who contract the insurance subject to tax," says the rule at its origin.

And in terms of collection,

the increase will raise tax revenues by 455 million

of euros this year, a figure that far exceeds the 144 million that the increase in personal income tax will contribute to high incomes and that equals what the Treasury estimates that it will additionally collect due to the tightening of Corporation Tax.

Much more will leave, instead, the tax on Financial Transactions or the figure on Certain Digital Services, a fact that only endorses that in reality it will be the middle class who will bear the bulk of the tax increase.

In the case of

Tobin tax

The estimate is that it will collect 850 million this year, and the entities have already made it clear from the first moment that this tax "is paid by the client, the buyer."

"You have to pay the tax and it is reflected in the service commissions", they explain, for example, from the ING broker.

And that "client" and that "you" is, on numerous occasions,

middle class

.

Either through the purchase of shares or through investment vehicles that must also pay the figure.

Up to almost 1 billion comes the

Google rate

This tax that Amazon has already announced that it will transfer to companies and that threatens to reach the end customer in one way or another.

And almost 500 million are those that the Treasury expects to enter with the tax on Plastic Containers and 340 million more thanks to the increase in VAT on sugary and sweetened beverages.

Large stores such as Mercadona, for example, are already communicating to their customers the increase in this figure and, therefore, in the price of the affected products.

And who are those customers?

Definitely,

the middle and working classes that Montero promised on countless occasions that would not be affected by the tax increase

s.

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