The PSPV will present an amendment without its partners to reward successions to the family business

The PSPV wants to fulfill before the end of the second legislature of the Botànic with the promise made repeatedly by President Ximo Puig to the family business and will present an amendment so that these companies that invoice more than 10 million euros have a bonus at 99 % of inheritance tax.

Thomas Osborne
Thomas Osborne
02 November 2022 Wednesday 23:34
7 Reads
The PSPV will present an amendment without its partners to reward successions to the family business

The PSPV wants to fulfill before the end of the second legislature of the Botànic with the promise made repeatedly by President Ximo Puig to the family business and will present an amendment so that these companies that invoice more than 10 million euros have a bonus at 99 % of inheritance tax.

The digital Valencia Plaza reported the decision of the socialist group to support some of the usual amendments of the opposition in this line, but the position of the PSPV is so determined on this occasion that it will not even be necessary to wait for the PP or Ciudadanos to make a move.

The spokeswoman for the Socialist Group in Les Corts, Ana Barceló, explained after the Board of Trustees, that her party will present an amendment to the Accompaniment Law to discount 99% of the Inheritance Tax to all companies and not only, as is now the case , which invoice less than 10 million euros.

Barceló admitted that the proposal will be made without the endorsement of its partners - who yesterday were opposed to this tax change - and pointed out that once the amendment is drafted they will seek "the support of other groups"

The socialist leader made it clear that this issue is a "very recurrent" claim and that the socialists have been working on it for some time: "President Ximo Puig already announced that we would address it," she pointed out. In fact, before running for re-election in 2019, she already promised.

However, as was also made clear yesterday, this tax reduction for the family business is rejected outright by the rest of the Botànic parties. A circumstance that, until now, has prevented it from moving forward. However, the PSPV is now willing to seek other parliamentary support.

And both Ciudadanos and the PP, despite being somewhat skeptical of the announcement, were willing to vote on Tuesday "in favor of any proposal that lowers taxes on Valencians."

Everything indicates that the Socialists will need that support from the opposition after their partners insisted that they will not approve this tax cut. The toughest was the Unides Podem deputy Ferran Martínez who came to describe this proposal as "the Roig clan amendment", alluding to businessman Juan Roig, owner of Mercadona.

The parliamentarian of the purple formation called "disloyal" the fact that the Socialists are going to present this amendment alone after the three partners had not reached any agreement on the matter in the negotiation of the tax reform. Martínez went further and even pointed out that the tax reduction could, according to the regulations of Les Corts, need the endorsement of the Consell -since it supposes a decrease in the expected income- and that the UP leaders in the Valencian Government would never support it.

Barcelo played down this threat: "It is an amount that will hardly have an effect on the collection" of the public coffers of the Generalitat.

Softer in criticism was Compromís. Its deputy spokesman Carles Esteve admitted that the Botànic is "a cohesive government, but it has three different legs, and each leg can have a voice, some proposals and political freedom". However, he made it clear that he is not in favor of the tax reduction for companies with a turnover of more than 10 million euros, since it would be "a tax gift to high net worth individuals".

"Since 2019 there has already been a tax reduction for Inheritance to family businesses that invoice less than 10 million euros, and in the situation we currently have, of inflation and a certain uncertainty, we are not about to give tax gifts to large estates," he said. Steve. "We do not see it as a priority. Now it is not time", added the other deputy of Compromís Vicent Marzà.

Nobody is unaware that the elections are approaching and the parties have to fulfill some overdue promise, make differences between them and present their best clothes before passing the revalidation with the voters.