Spain Pledges to Raise 6 Billion Euros More From Corporate Tax
- Economy minister aims to persuade EU not to levy budget fine
- Interest costs lower than budgeted, fraud fight exceeds plan
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Spain’s acting government targeted an extra 6 billion euros ($6.7 billion) a year from corporate tax as it tried to persuade the European Commission not to levy its first-ever fine for persistent budget breaches.
The Spanish authorities will increase revenue by bringing forward the payment schedule and increasing the minimum percentage that companies have to pay during the year, Acting Economy Minister Luis de Guindos said Tuesday at a press conference in Brussels. The plan will have to be confirmed once caretaker Prime Minister Mariano Rajoy has pulled together a majority in parliament to take office for a second time.