The Ministry of Finance will give two options in the new tax on municipal capital gains and the taxpayer will be able to choose the one that is most favorable to him, also leaving the town councils to

adjust the cadastral value of the land down by up to 15%.

The option of calculating it using the cadastral value of the land at the time of the transfer will be maintained, although with new coefficients set by the ministry, and it will be offered as a novelty to calculate it on the difference between the purchase value and the sale value. The taxpayer may choose the option that is most favorable to him.

As this newspaper announced yesterday, the Treasury will approve next Monday, in the Council of Ministers ahead of that day, the new Tax on the Increase in the Value of Urban Land. That is, the capital gains tax. The following day, Tuesday, the Official State Gazette (BOE) will publish the text, and

on Wednesday the new figure will be fully in force

. The Minister of Finance, María Jesús Montero, confirmed it today in her speech at the XIV Regional Congress of the PSOE-A, which is held in Torremolinos (Málaga): "on Monday I will fix the surplus value, man, of course, I'll take it to the Council of Ministers, said and done ".

This is the scenario in which the Ministry directed by María Jesús Montero works, which is practically closed and leaves two important additional readings: that the Government has

acted expressly in just 15 days

, and that the Treasury's intention is to That the figure does not have retroactivity, which will mean that the operations that have been closed in that period of legal vacuum

will not be subject to the tax

.

With regard to speed, the Treasury has reacted in this way to the requests and pressures it has received from the municipalities, which are the ones who benefit from this tax. The ruling of the Constitutional Court, which on October 26 annulled the capital gains tax,

threatened to leave municipalities without 2,300 million

euros a year, according to the latest data available for 2018. And that figure even reached 2,500 million, but a decision also by the TC canceling some articles of the Local Finance Law already in 2017 reduced the collection. But in any case, the hole for city coffers was going to be huge.

And on retroactivity,

in the Treasury they point out that there will be very few cases that can benefit from this lack of taxation

.

In addition, if it is applied, the process could be complicated and even give rise to claims, and what the Ministry wants to do is solve a complex situation in the fastest and most aseptic way possible.

In this same sense, the new norm guarantees that no one who has registered losses will be obliged to pay the tax and, obviously, that the new text will fully comply with what the Constitutional Court ruled.

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