Por: PBS OneWorld
After the general elections that took place on November 20th, Spain will have a new government by the end of the year. Besides a new wave of spending cuts, necessary to ameliorate our economy, we expect new tax measures to come into force, aimed at achieving a new successful Spain, whose richness is no longer purely based on construction.
As anticipated during the electoral campaign, the program of the centre-right political party that is expected to lead the country in the coming four years includes decreasing direct taxes, with the purpose of providing families and companies with more financial and economic resources. This will likely take place by introducing changes in the Personal income tax, to increase the financial capacity of families and individuals, and in Corporation tax, seeking to help small and medium-sized companies as well as self-employed individuals. The concrete measures required to achieve these goals have not been clarified yet but, hopefully, immediate action will take place once the new government takes its new responsibilities.