this Community of Madrid For the third year in a row, Spain again has the lowest taxAs reflected in the most recent Autonomous Financial Competitiveness Index (IACF), prepared by the Freedom Development Foundation and whose main results are presented this Tuesday.
As explained by the Community of Madrid in a statement based on this work, It analyzes the fiscal policy of regions through more than 60 variables linked to personal income tax, Inheritance, Inheritance and Donations, Transfers of Inheritance and Documented Laws and its own autonomous taxes Madrid is also the most developed autonomy since this ranking began in 2017. then the leadership position.
Javier Fernández-Lasquetty, Minister of Economy, Finance and Employment, stressed the importance of this document to “improve administrations’ tax systems, making them more respectful of citizens’ property and more competitive and attractive to corporations and corporate taxpayers” and Madrid’s “foreign taxpayers for three years”. He showed his satisfaction with the fact that he was in the “plan”.
For the IACF, the most competitive regions after the Community, Basque Country, Navarre and Canary Islands. On the contrary, Catalonia, the Commonwealth of Valencia, Aragon, Asturias and Extremadura fell under this classification.
According to Fernández-Lasquetty, this is the result. “In almost two decades where taxes were not raised and all lowered in Madrid, returning a larger portion of its resources to taxpayers”.
“We are the first economy in Spain since 2018, contributing 19.3% of the national GDP, which saves 17,620 euros per taxpayer and also allows us to have the highest quality public services,” said his adviser.
More wealth and collections in addition to increased employment
Fernández-Lasquetty noted that the successive reductions in taxes are beneficial above all. “low income”stimulated the economy, created more wealth and jobs, and so “the collection increased”.
In parallel, he added, this even allows the Community of Madrid to be the region that contributes the most to solidarity with others while contributing to the financing of essential public services.
For the consultant, Madrid’s policies are a “Contagion in other autonomous communities that participate in tax breaks, regardless of the political party that governs them”.
Thus, he underlined “the announcement of the abolition of the Wealth Tax in Andalusia, the reduction in Galicia and the reduction of personal income tax by Murcia, Castilla y León, the Community of Valencia and the Basque Country”.