In a televised interview this week, the country’s finance minister, Maria Jesus Montero, presented a stance on tax policy she described as fair: she argued that higher earners and entities that have benefited more should contribute a larger share of taxes. She advocated implementing the proposed tax surcharge at the start of the upcoming fiscal year, which begins January 1, aiming to ensure a prompt and meaningful contribution to public finances.
During the appearance on TVE, Montero voiced agreement with the overall objective of the surcharge and its intended purpose, even as she raised questions about the specifics of Yolanda Díaz’s plan. Díaz has suggested a ten-point surcharge on corporate income, proposing a rate of 25%, with a higher 30% rate for banks and oil companies. Montero, while aligned on the goal, refrained from endorsing the exact mechanism or the precise rate and structure at this stage.
Officials emphasized that the surcharge should be tied to actual performance. The government argued that relying solely on the standard corporate tax framework might not always yield the best returns, and that a carefully calibrated surcharge could capture real economic strength. However, the details of which tax figure would bear the burden were not specified, and no final formula had been laid out yet.
Montero also clarified that the method for approving the measure had not been settled. She noted that taxation decisions cannot be reduced to executive decrees or budgetary provisions alone; a formal bill would likely be required, and the chosen instrument would depend on the legislative vehicle selected. The key point, she stressed, is that the measure be ready for implementation at the start of the new financial year and be designed to deliver a tangible, effective contribution to the public treasury.
Asked about other proposals from Díaz, such as a 50% discount on transport passes or a 300-euro payment to vulnerable families, Montero said dialogue within the governing coalition remains open and that no option is definitively ruled out. The government is pursuing a mix of swift and impactful steps that protect the most vulnerable segments while also supporting the middle class during a period of economic adjustment.
On the topic of digital assets, Montero addressed cryptocurrency regulation and the upcoming annual reporting requirements for holders. She underscored the need to establish clear rules to prevent fraud and minimize potential adverse effects on the broader economy. The discussion reflects a broader aim to strengthen financial oversight while balancing liquidity, innovation, and consumer protection.