Montero also hopes that Europe will advance in the “decoupling of gas” and that its price will be capped, which would allow a reduction in the electricity bill
The government works on a reduction in fuel taxes to try to mitigate the impact of inflation. The President of the Government, Pedro Sánchez, already pointed it out last weekend, and the Minister of Finance, María Jesús Montero, has influenced the same idea.
First, by noting that the Executive is going to “lower taxation of some products or some sectors that are clearly impacted by the increase in inflation”. And second, when, when asked specifically about hydrocarbons, she has stressed the need to “review the taxation” of “the products that are most impacted by inflation.
Montero has not wanted to specify dates or what specific actions are contemplated, but within the fiscal sphere there are two options for hydrocarbons: reduce VAT from 21% to, for example, 10%, which is what has already been done with the price of the light; or apply some modification in the special tax on hydrocarbons. In addition, measures can also be taken for certain sectors such as transport or the countryside.
In this way, the Spanish Executive will follow the example of other European countries where concrete measures have already been taken. Francefor example, has already announced a reduction of 15 cents in the price of a liter of fuel from April 1, and Poland It already made the decision in February to apply a historic reduction in VAT on fuel, gas and basic food.
The capacity to act on the price of fuels is broad in Spain, since 50% of their prices are made up of taxes. This has been remembered by Alberto Nuez Feijo, who has not hesitated to criticize that “the government is lining up with the increase in electricity and gasoline“.
discounts on light
The Minister of Finance, in statements to the media in the Senate, has also pointed out that the Executive wants to stop the rise in the price of electricity. To do this, she has referred to the European Council to be held at the end of the month and in which she hopes that “regulatory frameworks” will be proposed that allow “uncouple the gas, cap it, and make centralized purchasesbecause gas is precisely the product that is most influencing this increase in the wholesale price of energy, which is then translated to families and the productive fabric”.
Businessmen ask for lower taxes
Also this Monday, the circle of businessmen has transferred the need to limit the taxes levied on energy products, such as fuel, as well as review the operation of the wholesale electricity market.
During the presentation this Monday of his tax reform proposal, the president of the Businessmen’s Circle, Manual Pérez-Sala, pointed out that “it seems prudent” to review the taxation of energy products so that the rise in costs at origin does not have a “multiplier” effect on tax collection.
“The Government must propose a solution,” Prez-Sala has claimed, pointing to VAT and other taxes levied on fuel for transportation. “Reforms must be made along these lines so as not to support this multiplier effect in taxes,” added Prez-Sala, who has also called for an in-depth review of the marginalist system that sets prices in the wholesale electricity market, reports EFE.
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