Belonging 10 billion euros, estimates Soumara The impossibility of calculating the impact on income was confirmed by the Ministry of Finance. The government has initiated procedures to transpose European corporate tax rules that will force large business groups to pay taxes based on their accounting results. This means increased tax pressure, but the department headed by Maria Jesús Montero believes that “it is impossible to estimate income this will come from the new additional tax.”

This is stated in the Regulatory Impact Analysis Report (MAIN), which accompanies the text that the Executive branch submitted to the public hearings and information. In this document The Treasury indicates that it confirms income, but indicates that its quantification will depend “to introduce, if necessary, a national surcharge in the various jurisdictions in which multinational groups” whose turnover exceeds €750 million may be present.

It should be noted that Spain already had a minimum corporate tax rate of 15%. and that this rate increases to 18% for financial institutions and oil companies. However, this applies to the tax base and the Organization for Economic Co-operation and Development (OECD) treaty states that tax must be paid on the accounting result.

As this newspaper writes, the result of accounting is the difference between income and expenses. On the other hand, the tax base takes into account other aspects of the financial statements, such as depreciation or foreign profits already declared in other countries.

The change in calculation will have a significant impact on taxpayers, as the Treasury admits: “The impact on implementation cost The preliminary draft is for taxpayers relatively high at firstAlthough there are specific measures to mitigate this effect, at least initially,” the document says.

No trace of 10,000 million

Nevertheless, Neither the report nor the preliminary draft specifies a figure of 10 billion euros. as stated by Yolanda Diaz, Second Vice-President, Minister of Labor and leader of the Zumar party, during the presentation of the program agreement between this party and the PSOE. Even then, the Ministry of Finance confirmed to this newspaper that this calculation did not come from its technical specialists.

This is an astonishing figure that Podemos has included throughout its political history in all documents in which fiscal policy is mentioned, and which could be added to the approximately 30 billion euros annually that the Tax Agency currently collects. the latest available data for 2022 is 32,176 million, so income growth is not at all insignificant: it will be 30% of current income.

Affected companies

The project regulating the new corporate tax will apply to multinational groups or Spanish business groups with a turnover of at least 750 million eurosaccording to the parent company’s consolidated financial statements for at least two of the last four years, according to filings open for public comment.

Some organizations are excluded from this obligation, such as government agencies, international organizations, non-profit organizations or pension funds. In practice, these rules will mean the creation of an additional tax on three “complementary configurations”.

The first, the national additional tax, allows large companies operating in Spain to pay taxes at a rate of 15% on adjusted accounting profits, unless the taxation of the entire group already exceeds this rate. The second, primary additional tax, aims to tax the results foreign subsidiaries of business groups based in Spain at 15%.

A secondary surtax is triggered when the multinational holding company earns income abroad and is not subject to tax at the 15% rate. This tax falls on the parent company and not on the subsidiaries.

“More specific, Spanish parent companies and subsidiaries belonging to some of these groups will be affected.“With respect to income they receive in those jurisdictions in which they incur effective taxation below the minimum tax rate of 15 percent, in which case they must bear additional tax on the difference,” the Treasury concludes.