The president of CEOE, Antonio Garamendi, today called on all the companies that make up his organization to make a common front in rejecting the increase in corporate tax that the Government proposes for large electricity companies, an increase that justifies for the benefit that these companies are obtaining from the escalation of prices due to the war in Ukraine.

“Many announcements are being made where there is talk of increases of 10%,” Garamendi said in reference to the project for electricity multinationals. “But be careful: we all need each other and the boost from large companies is necessary for medium-sized and small ones”, he recalled and later warned that if it is now the turn of the large electricity companies, the increases in corporate tax may continue afterwards. by other sectors, appealing to them not to remain indifferent.

The president of CEOE has underlined the importance of the Spanish business fabric having multinationals, something that in the case of those integrated into the employer’s association “is a source of pride”. “We are not aware of what the headquarters effect represents and that decisions are made globally today”, he has stated in reference to the risk of relocation of companies in Spain that would mean a rise in taxes “.

In the same context of the energy crisis that threatens the economy, the president of the businessmen has approved the reduction of VAT on electricity bills from 10% to 5%, which the Government will approve next Saturday in the Council of Ministers because “it shows that Indeed, taxes can be lowered so that the economy works better”. Garamendi has described the measure as “progressive” and has asked to keep in mind all consumers, including industrialists. The philosophy of the employers in this sense is, “more tax bases and fewer rates”, in reference to the fact that the Government’s fiscal strategy should consist of bringing out the submerged economy and reducing taxes.

In an assembly held at the headquarters of the Spanish Olympic Committee (COE), Garamendi expressed his “sadness as a Spaniard” at the withdrawal of the joint Aragonese and Catalan candidacy for the 2030 Winter Olympics.

“That candidacy, which had to be a true wonder of the Winter Games, due to differences (…) has failed,” he said. For the president, the businessmen, the decision “is a real sadness” and supposes an “economic loss” both for Spain and for Catalonia and Aragon.

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