Valencian economists consider that the first tax measures announced by the central government They fail and ask to “go further” in the face of the “exceptional situation” and the “destruction” caused by DANA which devastated a good part of the province of Valencia. The College of Economists of Valencia (COEV) plans more tax cuts for the vehicle acquisition, house repair and worker income faced with the consequences of the disaster.
The dean of COEV, Juanjo Enríquez, explained that “we have to go a little further” than what has been approved so far by the central government. “It is necessary to put in place all the necessary measures to contribute to the recovery of the affected area. personal and professional spheres“, he remarked.
Concretely, the COEV regrets that the measures relating to the exemption from taxes on the acquisition of vehicles, on workers’ income or in the rehabilitation of housing in the initially announced package.
The COEV demands that the Central Administration expands the initiatives already approved last week with several proposals.
Specific taxes
On the one hand, an exemption or improvement from the tax on Constructions, Installations and Works (ICIO)applicable to repair, rehabilitation and reconstruction work on damaged properties, both in homes and commercial premises.
It also calls for reducing to 0% the value added tax and the property transfer tax (ITP) on the purchase of vehicles. According to the Insurance Compensation Consortium, 44,203 claims were made for motor vehicles.
Valencian economists also claim exemption from income tax and social security contributions on the assistance that companies wish to provide to their employees. “Otherwise, this aid would be charged to workers’ income,” he warned.
