The second vice president and Minister of Labor, Yolanda Díaz, expressed this Thursday the need to reform the Corporate Tax so that it is more fair to the microenterprisesso that SMEs pay less and large companies more.
SMEs have an effective Corporate Tax rate of 16.5% and in large companies it does not reach 5%, so the proposal is to reform this tax so that a reduction is applied to small companies and an increase for corporations, which are the ones that have to “contribute more in our country.” He has also stated that he has “never” heard about this, “neither from the employers nor from the right”, at the Europa Press Information Breakfast this Thursday.
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Modify the franchised VAT and reduce expenses
The VAT that is applied to the self-employed is another of the systems that Díaz considers “unfair.” This formula means that they pay this tax for work that they have done but have not yet been paid for, thus advancing money to the public coffers.
Thus, it has proposed transposing this directive so that those with billings below 85,000 euros only have to make an annual information declaration.
In terms of business costs and as a third reform, the head of Labor has defended the need to reduce energy and financial expenses, especially for SMEs, which have fewer possibilities for negotiation, encouraging them to group together and negotiate collectively to have cheaper prices.
More financing through the creation of public investment banking
Along these same lines, he has advocated for a public investment bank that facilitates the subsidy of SMEs and the self-employed.
“The only tool they have is conventional financing. This is an anomaly that we have in our country, which must be corrected,” Díaz reiterated.
Díaz has proposed that part of the 83,000 million soft loans of the ‘Next Generation’ be allocated to modernizing small businesses and a specific line of 3,500 million annually for companies with fewer than 50 workers.
Other measures proposed by Yolanda Díaz
The simplification of bureaucratic burdens, the creation of a single window for all administrative procedures and the fight against late payment are other reforms in favor of companies that Yolanda Díaz has defended.
“The financial cost for SMEs in Spain is 2,500 million euros per year. This, let me tell you, is like the world upside down. That is, it is the small ones that are financing the large ones (due to the late payment of the latter),” stressed the minister, who has opted to increase the sanctioning regime for those who fail to make payments and also to reform the second chance law. for companies with subsistence problems.
“Six major reforms are necessary if we want Spain to continue advancing as it is doing,” the minister defended.