Spain wants to enter this year 600 million of the 'Google rate'

Spain wants to enter this year 600 million of the 'Google rate'

The Treasury extends this amount to 1,500 million in 2019 to cover the increase in pensions agreed with the PNV

  There is already a figure: 600 million. The Spanish government has already quantified the money they intend to enter this year by the so-called 'Google rate', the new digital tax that wants to approve "as soon as possible" to finance part of the pension increase agreed with the PNV and that has caused some concern in Brussels for its impact on the accounts (3,300 million in two years) and for the political message that they launch. Now, it's time to look for money under the stones and the Finance Minister, Cristóbal Montoro, knows where to do it.

  This is stated in the Stability Plan approved on Friday by the council of ministers and sent yesterday to the Commission, which talks about that impact of 600 million for 2018 and estimates the money that will be raised in 2019 at 1.5 billion. It does not cover all the bill presented by the PNV, but it is true that it will help defray part of it. This, of course, if the forecast of income is fulfilled on a still very embryonic figure and on which there is a strong division within the EU.

On March 21, Brussels asked to establish a temporary rate of 3% on the revenues of large technology companies (Google, Facebook, Twitter, Airbnb, Uber ...) so that Member States, now defenseless in the digital economy, can enter about 5,000 million a year Around 10% would correspond to Spain, hence the 500 million suggested as collection from the beginning. However, in Madrid they seem to have other calculations.

This type of company pays a Corporate Tax of 9.5% compared to 23% of traditional companies, and its sales grow at an annual rate of 15% compared to 0.2% of other multinationals. "It's a growing black hole," warns Economy Commissioner Pierre Moscovici. The idea is that it would only apply to companies with a worldwide turnover of 750 million a year, and 50 million within the EU.

The problem, as usual, is that the EU is divided. The great powers, such as Germany, France, Italy or Spain have been pushing hard for the approval of the tribute. In contrast, the usual suspects (Netherlands, Luxembourg or Ireland) do not want to take measures unilaterally and prefer to be taken within the framework of the OECD so that the EU does not lose competitiveness. The problem is that in fiscal matters, the unanimity of the 28 is needed. The other formula is to bet on reinforced cooperation so that a tax only affects the countries that approve it. She is not usually a good counselor since it was the way used to launch the 'Tobin tax' to the bank and the dream of the just is still sleeping.

Despite everything, Economy Minister Román Escolano said Saturday from Sofia that the government does not intend to wait for the European debate and is "willing to move on a national scale." "Spain joins the group of major countries that already have these figures, such as the United Kingdom, Italy, France or Germany," he said.