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A specific tax on banks leads to an equilibrium with less credit and a higher cost, lower growth in activity and employment, and lower revenues than initially expected.

Taxation is a key tool for climate action and helps society achieve its decarbonization goals. Environmental taxation in Spain needs far-reaching reform, with taxable activities and rates that reflect the true extent of the negative externalities to be corrected.

The tax reform includes social measures, mainly transitory, to mitigate the effects of the pandemic on the most vulnerable and raises revenues in COP15.2 trillion on a permanent basis. Of this, 70% from corporate taxes and the rest from anti-ev…

The 2022 economic package reinforces the commitment to fiscal discipline. The forecast of higher tax revenue is supported by improved intake practices and streamlining actions with more fiscal oversight for the compliance of tax payments. The f…

The latest political discussions within and outside of the Congress have placed the tax reform in uncertainty. It is necessary to reach agreements and quickly approve the best version of the reform in order to avoid negative effects on the econ…

After weeks of waiting, the Government's tax and social reform proposal is now published. The proposal seeks to stabilize the public debt and presents several issues to improve the tax system and social spending, while some issues should be discussed deeply and free of passionate feelings.

The COVID-19 crisis will cause an unprecedented deterioration in public finances, which will dwarf even the deficit and debt levels seen during the Great Recession. It is essential that Spain emerges from the crisis in a position to resume the path of convergence with the most advanced European countries.

Lower tax revenue would lead to a higher primary deficit (ceteris paribus). To meet the primary deficit target of 0.4% of GDP for 2020 under the aforementioned contraction range, the federal government would need to cut down public expenditure …

Predictably, Spain closed 2019 with a public deficit that was closer to 2.5% of GDP than to 2%, meaning little change in comparison with 2018. This almost complete lack of improvement means that fiscal consolidation efforts will be carried over…

The country only collects 14% of GDP for tax purposes. Not only does this represent the lowest level of all the countries that are part of the Organization for Economic Cooperation and Development (OECD), but it is also lower than the collectio…

This paper establishes homogenized series of regional financing, based on homogeneous competencies and fiscal effort, between 2002 and 2017.

Economic package reinforces signals of fiscal discipline by establishing a primary surplus target at a weak period of the business cycle.Consequently, it is positive that the federal government has proposed a primary surplus of 0.7% of GDP instead of the 1.3% that it had suggested in Pre-Criteria of economic policy for 2020