The increase in income in Heritage opens the way to maintain the rate for large fortunes nasshliski

The Tax Agency (AEAT) plans to collect 1,980 million euros from the Wealth Tax declarations corresponding to the year 2023. This amount represents 61.4% more than what was collected in this way only a year before. During the presentation of the 2023 Income Campaign, which started on Wednesday, the organization confirmed that this increase in collection will occur after the changes approved by Madrid, Andalusia and Galicia in the bonuses they had in this tax.

With these modifications, the three autonomies governed by the PP avoid in practice that a part of these income goes to the Solidarity Tax on Great Fortunes, which is state, while the Heritage Tax is transferred in its entirety to the own territories. Its collection and management are, which allows regional governments to modify the tax rate, the minimum exemption, as well as the deductions and bonuses of the quota.

Sources from the Ministry of Finance consulted by this newspaper evaluate these income forecasts positively, while the objective of approving the new figure – which was initially conceived on a temporary basis for the years 2023 and 2024 – was precisely that there would be no autonomies where Patrimony was 100% discounted.

These results could open the way to making Solidarity’s tax permanent, as the deputy leader, María Jesús Montero, has pointed out on some occasions, who considers that she has fulfilled her “political objective” of achieving “proportionality” in the payment of taxes. this. In the end, the decision to extend it beyond this year will also be political. In the first year of accrual, the tax on large fortunes collected 623 million, a figure 58% lower than the initial projection of 1,500 million.

Deductions and bonuses in both Patrimony and Inheritance and Donations have been a cause of conflict between territories, given that some have denounced the unfair competition or ‘dumping’ generated by those who have the capacity to be more aggressive in their tax policy. The campaign for the 2023 regional elections was the perfect battlefield to put these policies into practice. Meanwhile, the Minister of Finance has disgraced some communities that lower their taxes and then demand more resources from the system.

The AEAT explains that the increase of more than 61% in the income expected by Patrimony will occur despite the fact that in practice there will be 2.8% fewer declarations, 223,119 in total, due to the decision of autonomous communities such as Aragón, Extremadura and Murcia to expand the bonuses or raise the exempt minimums.

Brussels has warned of effects on the deficit by eliminating the tax

Last month, the European Commission demanded from Spain a “credible” strategy for reducing public debt and deficit in the face of the “limited” efforts made in terms of fiscal consolidation in recent years, in which much of the adjustment and It has been given by the economic cycle, with an increase in GDP that has exceeded forecasts. This requirement comes shortly before the new tax rules come into force at the European level.

Brussels goes further in its warning and has come to ensure that the improvements in the debt ratio will be more “limited” from now on, so that the liabilities of all public administrations will stagnate at 106.5% of GDP from of this year -from 107.7% to the one at the end of 2023-. At the same time, the community authorities point out that the deficit will be affected by the withdrawal of the solidarity tax on large fortunes and the tax on banks.

Tax reform and the fifth payment of EU funds

Meanwhile, the community executive itself must decide whether Spain has applied enough changes in fiscal matters to successfully complete the reform committed to in component 28 of the Recovery, Transformation and Resilience Plan. Originally, this tax reform was linked to the fifth payment of the Next Generation funds, through which Spain will be able to receive 7.2 billion in direct aid.

This design should be requested before July of this year. At the moment, Spain has yet to receive the fourth payment, linked to the unemployment benefit reform, which the Government rules out approving within the two-month period agreed to with Brussels. It also happens that the PSOE would have committed to testing a “global” and “fair” tax reform in the agreement for a coalition government signed with Sumar, which pointed out the possibility of making income taxes permanent. Banking and energy.

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