Rarely has there been so much unanimity. In the absence of “reading the fine print”, the employers and the main political parties of Ibiza, including the PP, yesterday celebrated that at last, after many years of “struggle”, from 2023 the islands may have a special fiscal regime, as announced by the President of the Government, Pedro Sánchez, during his visit to Mallorca.
The president of the Balearic PIME and Pimeef, Alfonso Rojo, valued “the already real commitment of the Government to have some amounts linked to the Balearic tax regime” in next year’s budgets: “I feel satisfaction for a request made long ago by the whole society of these islands, not only by the business sector. This marks a before and an after”. Rojo recalled that the new regime will allow companies, by means of tax exceptions, to reserve the money for investments that they used to send entirely to the State as payment of their taxes: “Before, we used to send all that money to the State and the State would then spend it. Now we will be the ones to decide what we want to invest it in over the next three years in order to improve and be more efficient. This will allow us to be on a par with the companies and citizens of the Peninsula. It is not the same to have to go into debt and continue having to pay brutal taxes, than not to pay those taxes and use them for expenses or investments”.
“It is going to be ideal for companies that make investment plans for two to five years, because it will allow them to have a vision of the future, knowing that they will have certain amounts of money available for investments.”
That said, he stressed that they must now “read the fine print“, and that it will also not come into effect until the 2024 fiscal year, when they file their respective returns where they can perceive the benefit of this tax measure: “It is going to be ideal for companies that make two to five-year investment plans, as it will allow them to have a vision of the future, knowing that they will have certain amounts of money available for investments. In addition, it is a tool that will allow us to stop being fiscally penalized, as was the case until now”.
“It will promote the circular economy”
Rojo explains that, as the suppliers of the SMEs are other SMEs on the islands, “it will promote a circular economy. It is not money from outside, but from the island that will be reinvested into companies on the island. 80% of the SMEs have local customers. It will be money that will have an impact on the rest of the Pitiusan businesses”.
The vice-president of the CAEB, José Antonio Roselló, was also pleased because, “at last, after many years of struggle, it has been possible to break the resistance against this tax regime. It has been demonstrated that it was not as impossible as they told us when we promoted it back in 2003. They said then that it could not be done, but it is clear that it can be done”. It will be good for businesses, but also for the citizens, he assures, “to the extent that when there is investment, employment is generated or maintained”. The new taxation, also, “contributes to reinforce the financial structures of the companies, because having a tax reduction in the taxable base, that money, that investment reserve, does not go to the public coffers, but it can be used for investment”.
The vice-president of the CAEB was also pleased because, “finally, after many years of struggle, it has been possible to break a resistance against this tax regime”
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