The PSOE has promised, within the framework of its electoral program, the improvement of the incentives for children and for dependency and care both in personal income tax and in spending policies, and it plans to maintain banking and energy taxes “if they continue producing extraordinary profits. In its program, the formation headed by Pedro Sánchez has set itself the objective of developing a family-oriented tax reform and coordinated with the social spending policy. To do this, he proposes improving incentives per child and dependency and care both in personal income tax and spending policies.
On this tribute, the Socialists also propose increasing the minimum for descendants and dependents in personal income tax in order to support families with children, boost the birth rate and accompany the care of the elderly and dependents. In the field of business, the Socialists want to promote an improvement in the taxation of the self-employed and SMEs, increasing incentives to promote their commitment to the ecological and digital transition.
End the “unfair tax competition” of CCAA in wealth
Regarding the Temporary Solidarity Tax of Great Fortunes -which is levied in the 2022 and 2023 financial years to be collected in 2023 and 2024- the Socialists indicate that they will “evaluate it” and, if applicable, the debate on the taxation of wealth will be attempted within the framework of the regional financing model to put an end to “unfair tax competition” between territories. The rate of this temporary tax is 1.7% for assets between 3 and 5 million euros; 2.1% for assets between 5 million and 10 million; and 3.5% for assets of more than 10 million euros.
Promote a State Pact against tax fraud
The PSOE has also set out to promote a State Pact against tax fraud. “We will reach an agreement with all the political forces, social agents and professionals in the field on a tax action plan against tax fraud, evasion and avoidance. And we will continue to strengthen and modernize the resources and staff of the Tax Agency”, the statement stated. program.
In addition, the Socialists will continue to promote the emergence and regularization of the underground economy, reinforcing the mechanisms for the regularization of the underground economy and the fight against fraud, in order to have a “more solid and fair” tax system, eliminating the competitive fixed advantages of those who abuse the system”.
Finally, the PSOE wants to launch a personalized tool so that each Spaniard knows exactly what the taxes they pay are used for, and thus citizens can judge for themselves the importance of paying taxes to maintain the welfare state. Thus, with the aim of continuing to improve compliance with tax obligations, the Tax Agency will deploy a comprehensive information and assistance plan for taxpayers, in which citizen service and improvement of administrative communications will constitute a priority.