The new Balearic government of the PP reduces two taxes in its first week in charge of the regional Executive. It will suppress the bulk of the gift and inheritance tax and eliminate the property transfer tax for young people under 30 years of age as well as for people with disabilities.
The president, Margalida Prohens, signed a decree on Tuesday establishing a first tax reform with a star measure: the total abolition of inheritance tax between parents and children, grandparents and grandchildren and spouses. With regard to the tax between siblings as well as between uncles and nephews, it will be reduced in installments that range between 25% (if there are descendants) and 50% (if there are no descendants).
“Today we end up with an unfair tax, the most unfair of all that there is, that taxes the effort and savings of a lifetime of work of the generation of our parents and grandparents,” said Prohens, who repeatedly committed himself in the campaign in that his first great measure if he governed would be the liquidation of this autonomous tax.
“More than Andalusia and Madrid”
According to the figures handled by the regional government, 60 million euros per year will no longer be collected. “The Balearic Islands will be the community where the least is paid in donations and inheritance, less than in Andalusia and Madrid,” the popular leader announced in an appearance after an extraordinary government council.
The reduction will be applied both in inheritances after death and in inheritances during life. “We do it urgently, through a decree law because these measures should have arrived years ago, citizens cannot wait any longer,” said Prohens, who promised to carry out this measure during the first hundred days of his mandate.
The decree must now be validated by the regional Parliament before it enters into force. This will take place next week, when the Chamber holds a plenary session to move it forward thanks to the support of the PP and its external allies from Vox, with whom they agreed on this measure within the package of 110 joint agreements to seal the alliance and allow the PP governs the autonomous community alone.
Prohens has assured that this is his first phase of a tax reform that will be expanded as he governs, and that will allow citizens and families, as he has said, alleviate their situation after a time in which “they have had to tighten the belt”. “It is urgent to lower taxes for families.”
Along these lines, he has stated that he hopes that if Alberto Núñez Feijóo's PP governs after next Sunday's elections, other taxes can be reviewed, such as patrimony, another of the issues that his government has promised to promote if state laws allow it. allow. Feijóo himself visits Mallorca this afternoon in campaign, and will foreseeably talk about this tax reform in the first of the territories that his party has managed to govern alone.
The Balearic government has quantified at another 15 million euros the money that taxpayers will save with its reduction in the property transfer tax that is levied on the sale of homes, and that will benefit young people, people with disabilities and other segments of the population.
This tax is specifically reduced by 50 percent for the purchase of a first home for persons under 35 years of age and for the purchase of a habitual residence for large families, single parents and families with dependent persons with disabilities.. In the case of large families, the cost of housing cannot exceed 350,000 euros.
Regarding the elimination of the wealth tax, promised in the campaign, he has admitted that as long as the so-called solidarity tax is maintained, eliminating it would have no effect on the taxpayer, which is why he has called for waiting for a hypothetical reform from the next central government.