Spain's Tax Reform To Benefit Entrepreneurs, Rajoy InsistsSpain's Prime Minister Mariano Rajoy has emphasized that the Government's envisaged fiscal reform 'must be fundamentally aimed at helping entrepreneurs' in Spain, including a Personal Income Tax reduction in 2015.
In an interview on RNE radio, Prime Minister Rajoy insisted that the Government is laying the foundations for economic growth and job creation. Alluding to the fact that some positive results are already starting to be seen, and making clear that more will be seen next year, in 2014, Rajoy reiterated that in 2015, Personal Income Tax will be lowered, and as regards value-added tax (VAT), 'it will not be touched for 2014,' and foreseeably not during 2015 either.
Furthermore, Rajoy asserted that in the event that some fiscal adjustments are necessary, 'this would not be at the level seen in the last two years.' It is a question now of growing, increasing revenue and making structural reforms, Rajoy stressed.
Finally, Prime Minister Rajoy explained that plans to reform taxation in Spain will be accompanied by a regional financing model, which will fundamentally be aimed at 'helping entrepreneurs, small- and medium-sized enterprises and the self-employed; in other words, those who create jobs, well-being and wealth.'
For further information please contact Tomas Diez, international contact partner for our member firm in Spain on
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