Treasury proposes tax on fortune as a formula to prevent “fiscal dumping” of Madrid

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The government accelerates the tuning fork to respond to the financial battle that Juanma Moreno Bonilla has begun with the abolition of the wealth tax in Andalusia and the PP’s various autonomous governments consolidating in a cascade. In the full design of a future state tax on large fortunes, the Minister of Finance, María Jess Monteiro, focuses on the “capital influence” plaguing Madrid and other regions.

Abandoning this legislature’s reform of regional funding, which should include reconciliation of transferred taxes, Sanchez’s executive now focuses on the new rate that the finance ministry is preparing to implement early next year. This will be temporary and, according to government sources, “it will be paid for in money throughout Spain.” Therefore, it seeks to close the hole through which PP autonomy is slipping; The last one, Galicia when A. are announcing Bonus up to 50% Of heritage.

With the political line set, Minister Monteiro this Friday launched an attack once again against this massive tax cut, in his opinion, due to the aforementioned “capital effect” and “radial design of the country” that would lead to “higher incomes”. Concentration causes “and estates in Madrid”. This entails a “greater collection” in the community of Madrid which prompts their governments to reduce some taxes. This, according to Monteiro, “leads to fiscal dumping”. status” generates.


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Fernando H. Valso

“There are autonomous communities that are at a competitive disadvantage,” warned Monteiro. The main victim, Catalonia, has 82,465 proclaimers of the Patrimony. In relation to Moreno Bonilla’s decision to abolish this tax, the Finance Minister has pointed out that a dangerous “spiral” is taking place. He recalled that the Andalusian government “permanently” calls for Sanchez to “increase financial resources”.

Monteiro has also highlighted that the PP governments’ decisions are contrary to European fiscal policy as the Commission is trying to “avoid a sense of injustice and a lack of redistribution to have no tax haven”.

“Madrid harms others, because Madrid makes a mental plan and others buy it”, he explained. For Monteiro, the ideal would be to “collaborate” and “not compete”.

PSOE’s Deputy Secretary-General has also asked Leader of the Opposition Alberto Nez Feizu to define “what is the situation with respect to Patrimony”. The president of the PP said precisely this Friday of the tax dispute that “it is about attracting heritage to Spain, not taking it away from other countries”.

Sánchez, for his part, confirmed to Valencia that, “in the face of fiscal competition” that the PP is enforcing, “the important thing is to preserve the welfare state” as it “unifies societies and fights adversity”. protects us”.

disputes with partners

PNV informs the government that it has to inform about the financial initiatives

PNV has not liked the latest financial initiative of the government. In fact, the Treasury is already in parliamentary process negotiating an amendment to the tax on energy and banking to make it compatible with the Basque Agreement. The Treasury did not notify the party headed by Andoni Ortuzar of the proposals and, according to training sources, are in violation of the investment agreement signed on December 30, 2019. In that text it was envisaged that the Government would consult with the PNV. Any initiative prosecutor that he raised before the Cortes Generale.

From the Basque Party they explain that the new tax on large fortunes raises “doubts” as to how it will be configured with the Patrimony rate. Euskadi has 16,000 announcements of Patrimony that generate a collection of about 150 million euros per year.





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