Treasury is looking into taxing large fortunes and reconciling regional taxes

Published by
Peter Kavinsky

Madrid, 21 September (EFE). Finance Minister Maria Jesús Montero assured that the government is “exploring” more contributions from “big fortunes” and is also advocating “harmonization” of some regional taxes in order to avoid a “financial race to the bottom”.

EFE/Juan Carlos Hidalgo

Speaking to reporters in Congress, Montero called for avoiding so-called “tax dumping” after Andalusia announced the abolition of the wealth tax, and asked for it to be done by harmonizing more community-administered taxes within the law. new funding model autonomous

The Treasury could, as part of the discussion on regional funding, explore setting a range for reducing this tax, which could now be as high as 100%. The goal is that there will be no “practical elimination of fiscal indicators”, because territories with higher collection rates “pull” others with less, but reject the recentralization of taxes.

Montero warned that it is “dangerous for regional leaders to talk about paradise,” as Community of Madrid President Isabel Diaz Ayuso did when it is being fought over internationally and in Europe.

However, the minister does not expect minimum forks because at present the debate about regional funding, which continues without agreement, focuses on the most basic distribution criteria, such as population size or dispersal.

Taxes on large fortunes

In addition, Montero stressed that in “hard times” the government is “working” to demand “effort” from those who believe “they are in a better position to do so”, and citing taxes on banks or energy companies, he pointed out that “they continue to explore this ability to contribute to the great wealth of our country, to a great fortune.”

When asked about this proposal from Podemos, she pointed out that “it’s not that some or others ask for it, but that all members of the government agree that we should ask for more effort at this time for big states. banks, energy companies.

According to the finance minister, two models have become apparent: the PP model, which she believes “protects electric utilities, oil companies, banks and big fortunes” and the PSOE model, which “requires effort from those who have more to we could accompany the middle and working classes.”

Abolition of wealth tax in Andalusia

Montero stressed that Andalusia’s wealth tax abolition benefits only 0.2% of taxpayers while donating 120 million in fees to health care, education or dependency.

Regarding the abolition of the wealth tax by José Luis Rodríguez Zapatero in 2008, he pointed out that at “a particular economic moment, a certain fiscal policy may be proposed”, and he asked himself, “in the times in which we live, who can be against what is the greatest wealth, what is the greatest income, that those who have exceptional advantages contribute more to the benefit of the middle class of our country.

It’s not just about helping the most vulnerable, but also the middle class, who bear the biggest tax burden and support the welfare state, Montero said, pointing out that support in the form of scholarships, free transportation or fuel discounts makes it work in the direction that “those with more economic opportunities contribute more.”

Online Edition: Pink

Entrance Treasury is looking into taxing large fortunes and reconciling regional taxes was first published in EFE News.

Peter Kavinsky

Peter Kavinsky is the Executive Editor at

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