The PSOE and Sumar agreed to transform the temporary tax on banks into a permanent tax, a new luxury tax and to increase by two points the personal income tax on capital income above 300 000 euros. The consensus between the parties of the coalition government before the Finance Commission this Monday leaves the tax on energy companies awaiting negotiation, as elDiario.es has learned.
“Sumar and the PSOE reached an agreement on the fiscal package for 2025 in order to improve the sufficiency of resources to continue expanding rights, social policies and financing the ecological and digital transition, as well as all the challenges that our country must recover.” , begins the document of the agreement to which this newspaper had access.
The first measure it includes is the establishment of a “minimum tax level of 15% on the profits of multinationals and large companies, which is a historic demand of progressive forces and which will finally be achieved with the transposition into our legal system of the “Community”. directive resulting from the OECD’s second pillar agreements.
Until now, what was taken for granted until now. The rest of the tax changes are much more complicated to obtain consensus, both within the coalition government and among the inauguration partners, whose votes will be necessary to carry out this tax reform this Thursday in the plenary session of Congress.
Among the agreed reforms, it is necessary to highlight the respect of one of the commitments made by the PSOE and Sumar when forming the government: converting the temporary tax on the banking sector, designed in 2022, into a permanent tax.
Finally, the two groups agreed to “maintain the bank tax so that these entities, which only pay less than 3% of their profits in taxes and which obtain record profits, contribute equitably to the support of the society whose They benefit from numerous advantages, just like the rest of businesses and citizens. Previously, the PSOE had agreed on this measure with the PNV and Junts, but under different conditions than those demanded by Sumar.
This Monday’s agreement continues with “a two-point increase in personal income tax for capital income above 300,000 euros in order to continue to advance horizontal equity with labor income “.
In addition, it provides for the creation of “a new tax on luxury products (private jets and yachts, luxury cars, etc.) to improve equity in the distribution of income and wealth”.
It also addresses the serious problem of access to housing and “introduces a VAT of 21% for tourist apartments in order to reduce their profitability and transform them into housing for permanent rental, thus alleviating the lack of usual housing in the areas in difficulty.
