For years, the assignment of subsidiary liability to company managers was a relatively rare procedure, associated with cases of serious omissions of settlements and / or tax payments. However, for various reasons, this assignment of liability has become an increasingly common procedure in recent years, which has revealed several shortcomings in its regulation and implementation, which should be corrected as soon as possible to ensure equity, and proportionality in the procedures related to the collection action.
In recent years there has been an intense debate on the fiscal regime applicable to Spanish SICAV. The measures contained in the recently published Draft Law on General State Budgets for 2019 have important consequences on these entities, which must be analyzed by their shareholders in order to seek alternatives for action.
The increase and materialization of certain risks for global growth throughout 2018 have worsened the outlook for the coming years. In Europe, Brexit will continue to represent the main political risk facing the region during 2019. The business strategies to deal with it necessarily differ depending on the considered scenario. Among them, the possibility of a hard Brexit in 100 days must be accounted for.
The Government has publicized several draft laws on tax matters, which will be completed with budget bill for 2019, including upward changes in Corporate Tax. The intention of this tax adventure is the financing of public spending, reckless in domestic and European terms. The changes are not certain, because they need parliamentary maneuvers not discussed here.
The Spanish economy is immersed in a downturn phase of the expansive economic cycle, with more moderate variation rates. According to estimates in Equipo Economico, GDP will grow 2.6% in 2018 and 2.2% in 2019. These figures mean a downward revision with respect to our previous estimates, as a result of the change in external tail winds, lack of economic reforms since 2016 and the uncertainty generated in the last months by the messages on economic, budgetary and fiscal matters.