The tax increase for companies and diesel will contribute 75% of new revenues

The tax increase for companies and diesel will contribute 75% of new revenues

The minimum tax of 15% for large companies will contribute 1,776 million more against the 328 of the IRPF

  The new taxes (minimum rate of 15% in companies to large companies, tax on technology, green taxation, increase of the maximum rate in personal income tax for high income, etc.) and the fight against fraud will have an impact on income of 5,678 million of euros, although for the budgets of the State next year that impact is only 4,489 million euros. Of these higher revenues, 75% corresponds to the new taxes on companies and diesel, which will contribute 3.386 million euros to the State, according to the Government's forecasts.

  The greater volume of collection will be obtained with the new fiscal measurement that supposes to fix a minimum type of 15% in the Tax on Companies for the big companies - when they arrive at that 15% they will not be able to continue applying deductions or exemptions. And although companies are taxed at a nominal rate of 25% in companies, these bonuses actually pay "7% or 8% of your billing". For financial and oil companies, the minimum rate will be 18%. The 'floor' of 15% will allow to enter 1,776 million euros more in Companies.

This fiscal increase will not affect SMEs. Some will even benefit as another of the new measures is the reduction of the nominal rate from 25% to 23% for companies that bill less than one million euros a year, which will mean a reduction of 260 million euros in the collection annual.

Limit to 1,000 euros cash payments between professionals
The agreement between the Government and United We can limited to a maximum of 1,000 euros cash payments between professionals, when now it is allowed up to 2,500 euros, to fight against the shadow economy. According to the budget plan, this limitation will not affect individuals, who may continue to make payments of up to 2,500 euros. This measure will mean an increase in collection in the 2019 budgets of 218 million euros.

In addition, the new tax on digital services - the so-called 'Google rate' - will mean an increase in revenues of 1,200 million euros. Third in the collection order is the new tax on financial transactions, with 850 million euros, but that will not impact the state budget because it will go "entirely" to pay pensions, as confirmed to this newspaper sources of Finance. The new green taxation, which will equalize the prices of gasoline and diesel, will add another 670 million. In turn, the rise in the maximum rate of income tax for high income will only give 328 million more.

In addition, the Executive is optimistic in the fight against fraud. It foresees to enter 500 million more for it and another 110 million with the reinforcement of the list of defaulters with the Treasury. On the other hand, the 1% tax on large fortunes could raise 339 million for the autonomous communities that manage it.

In total, the Government figures in 11,724 million euros revenue increase in 2019, of which 6,413 for the economic cycle.