The Finance Commission knocks down the bank tax and approves an increase in personal income tax

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By TP

The This Monday, the Finance Commission of the Congress of Deputies overturned the maintenance of the tax on banks and energy companiesand has approved an increase in personal income tax for savings income that exceeds 300,000 euros, which will now be taxed at 30%, from the previous 28%. In this way, the bank tax declines after a session in which an attempt was made to save it at all costs, for which a alternative text that enjoyed the support of PSOE, Sumar and Juntsbut it has not finally been approved in a vote that had the abstention of ERC, EH Bildu and BNG. The organization has also given approval to a corporate tax reduction for SMEs and for those companies with a turnover of less than half a million euros. In addition, taxation of artistic activities has improved. These initiatives will be incorporated into the draft law on the minimum rate for multinationalswhich will have to go through the usual parliamentary bodies for approval. However, the measures that have been rejected will still have one last opportunity to pass the Commission's cutoff and be submitted to the final criteria of the legislators, since This Thursday a new plenary session will be held in which they can be debated and voted on once again. Among the measures rejected this Monday are also the tax increases for private insurance, SOCIMIs and luxury goods. In the case of SOCIMIs, the Government intended to eliminate the regime from which they benefit and which allows them to pay 1% corporate tax, compared to the 25% general rate. The Commission has also shot down the proposal that was intended tax the activity of tourist apartments and short-term rentals.