Low corporate tax revenue in Spain: A comparative analysis

Low corporate tax revenue in Spain: A comparative analysis

Fecha: abril 2020

Desiderio Romero-Jordán, José Félix Sanz-Sanz

Impuesto sobre sociedades, Recaudación

Spanish and International Economic & Financial Otlook, SEFO, V. 9 N.º 2

Tax revenue from corporate income tax has not recovered to pre-crisis levels in Spain. That is an anomaly in the European Union and comparable only to the situation in Italy. The government is contemplating the passage of measures this year which would increase annual corporate tax revenue by approximately 1.5 billion euros. Implementation of those measures depends on the ability of the minority government led by Pedro Sánchez to garner the support needed to pass the 2020 budget. The government is also assessing the possibility of enacting a new tax on BigTech which according to official estimates would generate annual tax revenue of around 1 billion euros. In any event, settlement of that tax has been postponed until the end of the year pending an agreement on a global minimum level of corporate tax on technology giants and other large multinationals which is currently under discussion at the OECD.

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