Spanish government estimates tax cuts to mitigate high prices | News

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The President of the Spanish Government, Pedro Sánchez, reported this Monday that the relevance of advancing to tax reductions is being analyzed in order to promote the affected sectors, in particular the energy sphere, as a result of the conflict between Russia and Ukraine.

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During his statements on the Spanish island of La Palma, Sánchez asserted that the 17 regional leaders of the European country agreed to focus their efforts on developing a strategy to boost the Spanish economy after the impact suffered as a result of the special military operation that began in the Ukrainian territory. .

In this sense, from 2021 until April 30, the reduction of rates in sectors such as electricity is maintained, where a reduction of 21 to 10 percent of the value added tax in the energy field is established; as well as the seven percent of the business tax is eliminated.



“The president has conveyed that we will make the necessary efforts in the field of tax reductions, once we also advance all the initiatives in the energy field, to go deeper into this issue,” said the spokesperson for the Executive, Isabel Rodríguez.

Likewise, the spokeswoman, Isabel Rodríguez, specified that from the meeting between the Spanish president, Pedro Sánchez, and other high-ranking officials of the regional governments; government authorities are committed to cushioning the impact of energy prices on the bills paid by families and businesses.

“The undeserved profits of the electricity companies, due to the setting of prices and not due to the real costs of production, must be used to contain the rise in prices,” said Podemos spokesman Pablo Fernández.

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