The government of Spain has launched a tax reform that
"will not be a simple retouch" but that will entail major
changes that, as announced by the government, will place us before
a simpler, fairer tax system that will offer greater flexibility to
the private sector."
The messages from the various public and private sectors that will be affected by the change in the tax system anticipate "that they will not be short-term measures," but "they will extend a tax cut in order to boost the economic activity and encourage savings."
The establishment by the government of an Experts' Committee for Tax Reform, which has been entrusted with the production of a report reflecting its recommendations, will be crucial to draw the general lines that will shape the tax reform that will become effective on January 1, 2015.
Such reform will include a modification of individual income tax, corporate income tax, nonresident tax, or the taxation of property owned in Spain. Hence, beginning in September 2014, careful attention should be paid to the measures that are approved and that will become effective from 2015, in case any operation was to be carried out before the entry into force of the new regulations.
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