IEE criticizes the excessive tax burden on companies in Spain

In 2023, Spain’s tax collection reached a new record, surpassing the figures of 2019 by approximately 50 billion euros. Despite this achievement, the Institute of Economic Studies (IEE) presented its Fiscal Competitiveness 2023 report with criticism for the high tax burdens placed on companies in the country. The report highlighted that tax pressure in Spain in 2022 was at 38.3%, which is 3.8 percentage points lower than the European Union average but still concerning for the country’s economic development.

The study emphasized that corporate tax in Spain accounted for 2.7% of GDP and Social Security contributions at 9.5%, higher than the EU average of 3.3% and 7.1% respectively. The analysis pointed out that social contributions to Social Security in Spain were significantly higher at 25.2% compared to the EU average of 17.7%, whereas corporate tax was slightly lower at 7.2%. The IEE indicated that Spain’s fiscal effort was nearly 18% higher than the EU average, making it one of the OECD countries with the highest tax burden.

The Tax Competitiveness Index revealed that Spain ranked poorly in terms of tax competitiveness among OECD economies, experiencing a decline over the last legislature despite improvements from the previous year. Despite this, Spain still lagged behind its ranking from

By Riley Johnson

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