Galicia announces a 50% extension of the Equity bonus

Galicia joins the tax offensive declared by the communities of Madrid and Andalusia by announcing today a bonus in the Wealth Tax, which will go from 25% to 50% in next year's budget.

Thomas Osborne
Thomas Osborne
26 September 2022 Monday 00:47
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Galicia announces a 50% extension of the Equity bonus

Galicia joins the tax offensive declared by the communities of Madrid and Andalusia by announcing today a bonus in the Wealth Tax, which will go from 25% to 50% in next year's budget. The president of the Xunta de Galicia, Alfonso Rueda, has argued that his Executive makes this decision with the aim of "protecting business activity and people".

In this way, Galicia is positioned alongside other communities governed by the PP that have also advanced similar measures. In the case of Andalusia, a bonus of 100% of the tax will be established from next year, thus becoming, together with Madrid, the second community to eliminate the tax. Other communities governed by the popular, such as Murcia, are also studying its suppression.

"We are studying other measures -in fiscal matters-, but I anticipate that we will not raise taxes." "It is much better to lower taxes than to raise them, it makes no sense to raise them", stressed the president of the Xunta in a forum organized by La Voz de Galicia.

For its part, the Government shows its opposition to measures that go through collecting less taxes at a time when Brussels is demanding the tax reform to which Spain has agreed to receive European funds. In this sense, the First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, today urged the leader of the PP, Alberto Núñez Feijóo, to "put a little order" in the fiscal race initiated by communities governed by their party on account of the wealth tax because it is "an irresponsible, incoherent and destructive dynamic for the country as a whole".

In this sense, he has called "for someone to put order in the Popular Party and to stop or reverse this downward race, which also does not contribute at all to progressivity and justice in the tax system." Likewise, in a subsequent press conference offered in Oviedo, she recalled that Andalusia is the second autonomous region in terms of spending on health per inhabitant, only behind the community governed by Isabel Díaz Ayuso. While Murcia, where its Executive has announced that it is going to study the suppression, has "a problem of high indebtedness" which shows a lack of fiscal responsibility, Calviño added.

Asked about the temporary tax for large fortunes that the Government is preparing for 2023, the minister limited herself to pointing out that technical work is being done to define it, always with the aim of "continuing to work on a progressive and fair tax system".