Sunday, August 14

The Government will stop earning 2.3 billion from deductions from the start-up law

The ley de start-ups it will imply for the Government to stop entering 2,300 million euros. The figure is a consequence, above all, of the tax cuts included in the new rule, which allows, for example, to reduce by half the taxes paid by investors for contributions of up to 100,000 euros or even eliminate them in packages of up to 50,000 euros of shares of the start-up that its workers receive as part of their salary.

However, the measure that will reduce public collection the most is the reduction in corporate tax paid by these companies, which goes from 25% to 15%. According to the economic report of the preliminary draft, to which Europa Press has had access, lowering the corporate tax by ten points means that the Government stops entering 2,000 million euros.

The Pedro Sánchez executive takes as a scenario that some 5,000 emerging companies with a turnover of two million euros spend two years under the deductions of the law. However, according to the text approved last Friday by the Council of Ministers, start-ups can benefit from these deductions for up to five years, as long as they invoice less than five million euros a year.

On the other side of the scale, the Government considers that the project promoted by the Ministry of Economic Affairs and Digital Transformation, led by Nadia Calviño, will encourage the creation of some 1,000 new of these companies in Spain.

Brussels approval

Related news

Now, the draft also reveals that a good part of the points of the start-up law depend on the European Commission giving its approval. Thus, Brussels has to give the green light both to the articles that affect taxation, as well as the deferral of taxes, the exemption of notarial and registration fees or the compensation of net worth.

Despite this, the rule is ready to take effect the day after its publication in the Official State Gazette (BOE), something that the Government has transferred to Brussels that will take place in the last quarter of 2022.

Reference-www.elperiodico.com

Leave a Reply

Your email address will not be published.