Thursday, April 15

The anti-fraud law adds three months without progress in Congress

Archive image of the plenary session of the Congress of Deputies

Archive image of the plenary session of the Congress of Deputies

The bill to combat tax fraud has already been in chains for three months without progress in its processing in the Congress of Deputies, where the groups have presented more than 200 partial amendments related to issues such as SICAVs, Socimis or the limitation of cash payments.

The anti-fraud law – approved by the Council of Ministers in October 2020, two years later than planned – is currently pending the presentation of the Finance Commission, where no progress has been made since at the end of December of last year the deadline for amendments will end.

Among the 248 partial amendments presented, the ones with the greatest advantage to be approved are the 34 amendments of the PSOE, which include a tightening of the control of variable capital investment companies (sicav) to ensure that they only have access to their favorable tax regime if they are really partnerships.

If the socialist proposal succeeds, the tax regime of the sicav will be linked not only to the fact that there are at least 100 partners as up to now, but also that each of them have shares worth at least 2,500 euros, which would prevent the quota is completed with the so-called ‘mariachis’ or partners with irrelevant stakes. Along with this, it advocates establishing a special tax on the undistributed profit of publicly traded investment companies in the real estate market (socimi) of 15%, with the objective of giving more dynamism to investments.

The amendments also seek restrict cash payments, which the project reduces to a maximum of 1,000 euros for businessmen and professionals, a threshold that the PSOE wants to extend also to individuals. Likewise, it proposes to clarify the procedure for entering homes in the framework of tax inspections, so that, whether the procedure has been previously notified or if it is done at the time of registration, you will need a judicial authorization derived from an administrative act that specifies the taxes and periods to which the investigation refers.

Other initiatives of the PSOE are exclude reduction on rental yield in the verification periods, restrict the suspension of periods due to the state of alarm to those that end before July 1, 2021 and prohibit the granting of state aid to companies that have to return funds as a result of a decision of the European Commission . Also consider an administrative offense any smuggling activity that is not a crime, modify the Economic and Fiscal Regime of the Canary Islands to include the community guidelines on State aid to maritime transport or adopt a regime of control of raw tobacco leaf and the fight against clandestine manufacture of tobacco.

The PP amendments go through equalize the taxation of inheritance agreements in personal income tax to inheritances, eliminate the new calculation of real estate valuation or exempt the payment of late payment interest when a procedure is delayed for reasons beyond the control of the taxpayer. It also proposes incorporating the obligation to report works of art, pension plans, jewelry or vehicles abroad or that the inclusion or exclusion of a territory in the list of non-cooperative jurisdictions is carried out in a royal decree and not in ministerial order.

For its part, VOX proposes remove from the list of defaulters of the Treasury those who during the period of allegations place their debt below 600,000 euros, reduce the fines for not reporting accounts abroad (from 5,000 euros per data with a minimum of 10,000 euros to 20 euros per data with a minimum of 300 euros and a maximum of 20,000 euros) or allow agreements to be reached with the Treasury a resolution of non-conformity has been issued.

ERC proposes to establish a state quota in the wealth tax and reduce the reduction by joint taxation for spouses with higher incomes, while Ciudadanos advocates lowering the limit of cash payments of non-resident citizens and PNV from 10,000 to 5,000 euros, for limiting the liability of customs representatives.

Other initiatives of the groups consist of create a superior body of Finance Technicians, quantify the underground economy, publish a list of large taxpayers (individuals and companies) that pay below the average, lower the tax threshold for lottery prizes to 2,500 euros (compared to the current 40,000 euros) or allow the contradictory expert appraisal to value real estate.

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