The Minister of Finance affirms that the tax on large fortunes will be “temporary” and will come into force in 2023

Exceptional situations require extraordinary measures. It is the prism with which the socialist wing of the Government focuses on the economic measures that it wants to implement to face inflation and the social derivative of the war in Ukraine. That is why Pedro Sánchez gave a temporary character to the new taxes on banks and energy companies and works with the same objective for the rate on large fortunes to which he has opened the door after having ruled it out just three months ago.

Brussels warns that tax revenues "they are very necessary" in the middle of the PP race to lower them

Brussels warns that tax revenues “are very necessary” in the midst of the PP’s race to lower them

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“We are working on a temporary idea, explained the Minister of Finance, María Jesús Montero, in the corridors of Congress: ”Hopefully these circumstances are corrected, Putin withdraws from Ukraine and we can return to normality“. “Circumstances will tell if it is necessary not to extend it”, she added, she too number two of the PSOE. The intention is that the new tax on the rich will take effect from January 1, 2023. “It will be linked to the entry into force on January 1 of all that are tax obligations”, Montero has specified, who it has, in any case, disassociated itself from the General State Budgets.

The programmatic agreement of the coalition establishes in a generic way the tax on the rich. “The taxation of large fortunes will be studied in order for them to contribute to a fairer and more progressive tax system,” says the document signed in 2019 by Sánchez and Pablo Iglesias. However, the idea of ​​United We Can is that it has a structural character. Another of the minority shareholder’s demands, and in this case it is specified in the agreement, is an increase in personal income tax for those who earn the most: two points the tax rates on the general basis for taxpayers who have incomes greater than 130,000 euros and four points for the part that exceeds 300,000 euros. “The state rate on capital income will increase by 4 percentage points for such income over 140,000 euros,” adds the text.

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The socialist wing of the Executive has opened itself to a tax on large fortunes at the moment in which the fiscal debate has been reopened as a result of the decision of the President of Andalusia, Juan Manuel Moreno, to eliminate Patrimony. The leftist forces have charged against this movement and the unfair competition that it entails between communities, as has been the case until now with Madrid.

“I think it is enormously irresponsible of the autonomous communities that are permanently asking the central government for more money to renounce a collection within the framework of their powers and that they decide to do so on 0.2% of citizens to the detriment of approximately 99%. ”, Montero has pronounced after Murcia has proposed joining the regions that eliminate the Heritage tax. “In Andalusia, raising 120 million is being given up in a community that has the lowest health or education spending,” said the minister before finishing off: “It is hard to admit at a time of crisis that we citizens are having a so badly that the great patrimonies are protected”.

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