the three groups that will suffer the tax increase in 2022

The General State Budgets (PGE) 2022 incorporate tax increases of almost 500 million euros. A new tax hike, but warmer than the one approved for this year, and focused on three specific measures. Although, in any case, part of the effect of the increase agreed for 2021 is also transferred to this coming year.

The one that United Podemos has pressed the most for is the establishment of a minimum corporate tax rate of 15%, for companies that invoice at least 20 million or are constituted as a consolidated group.

This decision does not stop there, but for banks and hydrocarbon companies the minimum rate would be 18%. The purple formation has ended up being imposed in this sense since the PSOE aspired to wait for 2023.

Business sources flatly reject such a measure. The expected collection for this concept is about 400 million euros, and affecting just over 1,000 companies. «The proposal of a minimum rate of 15% in the Spanish Corporation Tax aims to correct a non-existent problem because the same statistics of the Tax agency show that companies pay around 20% tax, so the measure would not affect them except those that add deductions for international double taxation and deductions for investments in R & D & I “, these sources point out, adding:” The measure does not it has a significant impact on collection, punishes those companies that are more internationalized and that dedicate significant amounts to research and technological development, the measure goes in the opposite direction to what would be desirable, which is to promote internationalization and innovation in our companies ”.

Bonuses to landlords

The Government has finally decided to include in the project the reduction from 85 to 40% of tax credits for companies dedicated to renting. A proposal that, in principle, was going to include the future Housing Law, whose final approval is expected next year.

The Minister of Finance, Maria Jesus Montero, has detailed in the press conference held this Wednesday in Congress that this advance will allow to pay for the fiscal winks that the Executive provides for small owners and tenants.

Specifically, this increased taxation from these companies will be used to provide tax exemptions of up to 90% dedicated to small owners deciding to lower the rents of their tenants in flats within stressed areas.

Pension plans

Savers are other victims of the new Budgets for 2022. The GovernO establishes its intention to lower the deduction in individual pension plans to 1,500 euros, compared to 2,000 today and 8,000 in 2020.

On the contrary, the deduction limit in company pension plans is extended from 8,000 to 8,500 euros, encouraging this modality against individual private savings.

Between the two measures, the reduction and the increase, the positive impact on collection would be 77 million euros, with which the final collection amount among the three groups punished amounts to almost 500 million.

From the employers Inverco, Unespa and CEM they have already criticized the measures put in place by the Government for private savings. In this sense, in a joint statement they explained that “in Spain there are more than 7.5 million participants in individual pension plans and almost 1 million insured in insured pension plans (PPA) that are going to be affected, of new, directly and immediately due to the measure, just announced. Many of them are self-employed.

“Contributions to individual systems will be reduced by 40% in 2021”, have also indicated the associations, denouncing the punishment that the Executive poses to savers.

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