taxes

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 externaliti…

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 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 …

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…