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Another country to levy a plastic tax!

 Last Update: 2022-08-25
 Source: Internet
 Author: User

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The Spanish government has announced that by 2021, public revenue will increase by 33.
4 billion euros

New tax policy will generate 6 billion euros in revenue

According to reports, the new crown virus epidemic crisis has caused a "devastating" impact on the Spanish economy, but the Spanish government predicts that economic development will soon usher in the dawn

Affected by the epidemic, the Spanish government has temporarily shelved the original plan of "big fiscal reform", but, as previously announced by Finance Minister María Jesús Montero, there will be tax adjustments next year

According to the fiscal plan, these tax adjustments will boost the government's revenue by 6.
8 billion euros next year and 2.
3 billion euros in 2022

Excluding revenue from the new law to combat tax fraud, which is expected to bring in around 830 million euros per year, the tax changes are expected to generate around 6 billion euros in 2021, which will increase to 20% over the next two years.
8.
4 billion euros

New "plastic tax" will bring 491 million fiscal revenue

Spain's budget plan includes an increase in a "green tax," and many agencies, including the European Commission, the Bank of Spain and the Organisation for Economic Co-operation and Development (OECD), have suggested that a green tax should be used to finance economic recovery

Spain's budget plan involves 1.
3 billion euros in revenue from environmental taxes in 2021.
Among them, a tax on single-use plastics is specified, and this tax will generate 491 million euros in fiscal revenue next year

Separately, Spain will introduce a new tax on digital services, commonly known as the "Google tax," next year, and a tariff on financial transactions, known as the "Tobin tax

Spain's GDP to grow by 7.
2% next year

The Spanish government expects GDP to fall by 11.
2% in 2020 and expects a rebound of 7.
2% next year, and with the aid of the European Anti-epidemic Fund, this growth rate is likely to rise
.
If the first batch of more than 25 billion euros of rescue funds is injected, it will help GDP grow by 9.
8% in 2021
.

Thanks to these additional funds, the Spanish government spending ceiling will be raised to almost 54% in the coming year, reaching 196 billion euros; on the other hand, the debt will also fall from 118.
8% of GDP in 2020 to 117.
4% in 2021
.

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