Spain Outlook: how to move forward on the road to recovery?
Por José María Romero Vera, Marta Otero Moreno and Andrea Cordero López
3rd of March 2021
2021 will be the starting point of the global economic comeback, which will be uneven across regions and sectors. In the latest edition of our report “Ee SPAIN OUTLOOK for Business Strategy” at Equipo Económico (Ee) we foresee that over 2021 and 2022 we will witness an incomplete economic recovery, with a rebound for the Spanish GDP set around 6.5% and 3.2%, respectively. From 2023 on, growth will converge towards a muted potential rate. There is a need in the short term to provide a clear support to businesses. At the same time, profiting from the new European funds, it is time to push forward long delayed structural reforms.
Selective taxation: who pays?
- Por Jesús Quintas Bermúdez
- 2nd of March 2021
Selective taxation is fashionable and easily "marketed", appealing to a wide range of social sensitivities such as climate change, environment, pollution control, privilege, redistribution and the social function of wealth.
The Supreme Court once again amends the administrative criteria on default interest taxation.
- Por Reyes Gil Serrano
- 22nd of February 2021
The recent judgment of the Supreme Court confirming Corporate Tax deductibility of the default interest settled by the Administration is being analyzed.
The improper taxation of remote working and the risks of tax over-regulation
- Por Salvador Ruiz Gallud
- 11th of February 2021
The pandemic has intensified the remote working, which has led to the approval of Royal Decree-Law 28/2020, on telecommuting. The regulation establishes that the company must provide its employee with the necessary IT resources and compensate him/her for the additional expenses incurred (such as electricity and other expenses of the home office). Whereas it could be argued that the resources provided to employees could be considered as an income in kind, in accordance with the provisions of the Personal Income Tax Regulations for such situations this should not be the case.
Opportunities arising from the European Recovery Funds
- Por José María Romero Vera
- 1st of February 2021
The new European funds come as a clear opportunity in order to boost the recovery. Despite the fact that the timeline for its implementation continues to expand, so its effective reception will be delayed until well entered the second half of 2021, certain recent advances taken place both in Brussels and at the national level stand out. Several ministries continue to launch public consultations calls to identify projects that would be financed with the new funds.