PSOE And Together for Catalonia They agreed yesterday battery of tax measures among which stand out the extension of the bank tax and the elimination of energy taxin addition to a large package of tax cuts for SMEs. These are the two levies that the government approved on a temporary basis in 2022 due to the extraordinary benefits reaped by the two sectors. The agreement resulted in several amendments to the transposition of a European directive on minimum tax on multinationals.
In the case of the tax on banks, sources from the independence party assure this media that the tax will become “progressive” instead of “linear”. Indeed, the amendments consulted by elEconomista.es They show that the tax will have different tax brackets starting next year.
This system will be extended to small credit establishmentsa demand made by the financial sector so that traditional entities are not penalized compared to neobanks or foreign entities. In recent years, the tax has constrained financial companies whose commission and interest income exceeded 800 million euros. These groups contributed 4.8%.
After the agreement between the PSOE and Togetherthe situation changes completely: Credit institutions must pay this amount even if their profits are less than 800 million. In the case of Catalonia, companies like Archia And Caixa d’Enginyersso far exempt.
The new design of the tax will include a first tranche of 0 to 750 million euros with a rate of 1%; another from 750 to 1.5 billion with a rate of 3.5%; another from 1,500 to 3 billion with a rate of 4.8%; and a final tranche starting at 3 billion euros with a rate of 6%.
Junts acknowledges having negotiated “on the basis of the proposal formulated by the PSOE” even if, from his point of view, “credit is guaranteed” to both companies and individuals. They add that the articles incorporate a “risk control factor” to avoid situations of financial non-viability.
On the other hand, those of Puigdemont assure that with the abolition of the tax on energy companies, the strategic investments of the industry in Catalonia have been saved, notably in the chemical pole of Tarragona. This was stated by its spokesperson at the Congress of Deputies, Míriam Nogueras. But it is not certain that this pact of amendments will see the light of day. Neither Sumar, nor Bildu nor ERC participated in the negotiations between the PSOE and Together. On the contrary, the three forces have put forward their own proposals aimed at maintaining the two sectoral taxes in their entirety.
The same Junts sources do not comment on the effects that the possible abolition of the tax on energy companies will have on the fiscal discipline plan sent by the government to Brussels. They also do not commit to supporting the government either in the path of deficit or in the preparation of budgets. “We still have no written proposal on the table. We will proceed step by step,” he summarizes.
Tax reductions for SMEs
The pact between socialists and post-convergents includes other measures which, according to Together, They will save up to 2.5 billion euros for small businesses in the next five years. The party estimates that 45% of companies based in Catalonia will benefit from this tax reduction, or around 265,000 companies.
Concretely, for SMEs which invoice less than one million euros per year, the first 50,000 euros of profit will be taxed at 17% instead of 23% for SMEs. Corporate tax; From these 50,000 euros, they will be taxed at 20%. Additionally, small businesses that charge between 1 and 10 million per year will pay 20%, while cooperatives They will reduce their rate by three points, to 17%.
This package of tax cuts is also accompanied by a 25% bonus on businesses in the event of reinvestment of capital. If they create new jobs, this premium will increase even more.
Pimec celebrated the agreement for “a reduction in the tax pressure suffered by micro, small and medium-sized businesses in Catalonia”. In a press release, the employers’ association stressed that the measure “will contribute to making companies in the sectors that could benefit from it – businesses, bakeries, hotels, professional offices, entrepreneurs, among others – more competitive, viable and productive, among others” . economic and social progress, as well as business growth.
Goodbye to mutual tax
Also The 8% tax on health funds has been abolished. According to the estimates of TogetherCatalonia has 2.7 million mutual members who will benefit from it. Likewise, it was agreed reduce Social Security contributions to 100% for coaches and instructors of sports clubs.
Another of the agreed amendments states that people with serious mental disorders do not lose the benefits they receive when entering the labor marketbut it is simply suspended. This way, if they leave their job, they will not have to start the process of obtaining their disability benefit from scratch.
