Wednesday, January 18, 2017

SPAIN: The largestíto community requests to harmonize Inheritance and Heritage – EntornoInteligente

Five Days / The reform of the model of regional finances has been started officially today with the celebration of the VI Conference of Presidents , which has had as absences featured the presidents of Catalonia, Carles Puigdemont, and the Basque Country, Íñigo Urkullu. The meeting is going on in a cordial climate. However, it has not served to advance the detail of the new system of distribution of resources. This was not the time.

The Government has been limited to put on the table the general principles which should inspire the new model as the fairness, adequacy or transparency. Obviously, no one is opposed to them. Another issue will be the realisation of a law. Despite the fact that he has not spoken of the small print, some communities that have gone one step further and have advocated a greater tax harmonisation in the tax on successions and donations . The position has been defended by Andalusia and has obtained the support of other communities in the PSOE, such as Valencia, Extremadura, Castilla-La Mancha and Aragon . Also autonomies of the PP as Galica, Murcia and Castilla y León have shown to be favorable to reduce the tax differences current. Thus, the harmonization of taxes of patrimonial character has obtained the support of most of the autonomous communities. Against, is positioned in firm form the Community of Madrid , which has virtually eliminated the inheritance and gift tax for the trans fer between immediate family members and is the only autonomy that has renounced to raise Equity.

Andalusia complaint that Madrid carries out a fiscal dumping and encourages relocation of individuals. The president of the Community of Madrid, Cristina Cifuentes, said that the communities should have fiscal autonomy and have the right to apply the tax policy that they consider to be timely.

The proposal, which defend Andalusia and other communities implies that the Government to set a minimum and maximum in Inheritance and wealth in order to reduce differences, avoid tax competition and the desimposición.

The Ministry of Finance postponed the reform of the taxation of economic reform that entered into force in 2015, and provides for review now in the context of the reform of regional finances. The department Cristobal Montoro is keen to include some harmonisation in the taxes for which the communities have extensive jurisdiction as is the case of Inheritance and Heritage. A taxpayer who inherits 800,000 euros must pay in taxes more than 160,000 euros in Andalusia or Asturias, and the tax bill does not get to 2,000 euros in Madrid.

The last time it was held the Conference of Presidents was in 2012. On that occasion, the debate revolved around the austerity measures to be taken to reduce the public deficit. At that time, Spain was at the edge of the rescue of the whole economy and with red numbers which moved in around 10% of GDP . The current situation is different. The public deficit remains very high (4.6 per cent of GDP), however, the economy is growing, creating employment and public accounts, especially of the autonomous communities, are in better position than five years ago.

In this context, the central Government has committed to put in place a new model of financing of the autonomous communities. Even so, Rajoy recalled during his speech that the collection current is still far from the levels prior to the crisis. In some way, moved the idea that the margin for the joys of budget are scarce.

SPAIN: The majority of communities asked to harmonize Inheritance and Heritage

With Information of Five Dias

http://entornointeligente.com/articulo/9516919/ESPANA-La-mayoriacute;a-de-comunidades-pide-armonizar-Sucesiones-y-Patrimonio

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