Fatal wound. Or that’s what tax advisors have to say about it. the future property tax. This was expressed at a conference in Barcelona by Valentí Pich, president of the General Council of the Colleges of Economists. Also, international this tribute is a rare birdAccording to Juan Corona, professor of Public Finance at Abat Oliva University and Jean Monet professor of European Financial Integration.
The council of colleges of economists held a discussion on this tax this Tuesday. Andalusia announced a 100% bonus on this tax, as in the Community of Madrid and Galicia He stated that he would increase the current bonus from 25% to 50%. Corona explained that such taxes, which existed in half of the OECD countries in the 70s and 80s of last year, were only implemented in Norway and Switzerland.
Jaume Menéndez, member of the tax commission of the Col.legi d’Economistes de Catalunya, reminded that although there are almost no taxes like wealth taxes in other countries, there are wealth taxes based on certain assets. Example of France (for real estate) or Italy (for financial securities).
Corona, in France or Sweden this tax was removed for “technical” reasons, not “political demagogy”. In the Swedish case, these were based on reasons of fairness, efficiency and adequacy. In the first case, they concluded that double taxation was applied, that is, assets that were previously taxed with personal income tax or other taxes, confirms this professor specializing in taxation.
In terms of efficiency, they found that in Sweden the tax had become a tax on savings, that is, on investment; which is not very appropriate nowadays. In terms of adequacy, it has been seen that the collection obtained does not justify the existence of such a tax. Corona warns The tax encourages resettlement and reminded that when it was abolished in Sweden, large amounts of capital were repatriated and collection was improved. And the same in France.
Agustín Fernández, head of the Registry of Tax Advisory Economists (REAF), highlighted that less than six million assets account for more than two-thirds of tax collection in Spain; Contributing to 22% of the collection, 3.41% of the declarers are between 6 and 30 million. 11% of revenue is a range of more than 30 million, with 0.3% of declarators. In turn, it showed itself Doubts about the temporary solidarity tax announced by the governmentwill fall into more than three million assets.
Salvador Guillermo, deputy general secretary of Foment del Treball, defended the inheritance and endowment tax at “low rates,” but not the inheritance tax, which in his view affects savings and investments.
If what you want is truly taxing wealth, Corona has advocated the option of imposing VAT surcharges on goods considered luxury. Another way would be to repeatedly tax wealth at the time of transmission, that is, at “reasonable and reasonable” rates. This would tax the wealth of “the richest, not the least rich”.
Fernández is committed to informative census returns and, in the case of a provisional tax, a higher exemption minimum, a less burdensome rate that takes into account interest rates and where autonomies can change the rate.