Cristóbal Montoro: “I don’t know why the Balearic Islands don’t have their own economic and fiscal regime”

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Christopher Montoro, former Minister of Finance and responsible for public accounts during the mandates of Mariano Rajoy, does not mince words and has always freely expressed his fiscal opinions. Among them, his vision of the independent tax regimes that exist in Spain in regions such as the Basque Country, Navarra, the Canary Islands and the cities of Ceuta and Melilla. “Economic and fiscal regimes make sense. They contribute a lot and we must continue to favor them“, has opined.

In fact, Montoro is committed to continuing to expand them to meet the specific needs of each region. “I don’t know why the Balearic Islands don’t have their own economic and fiscal regime. We left that well advanced “when he was Minister of Finance.” Insularity is a specificity that must be addressed in fiscal terms. “

Specifically, the former minister considers that “the economic and fiscal regime of Ceuta”, which allows a special taxation for transport, “is being fundamental in a very negative time“.


Ceuta Economic Forum / 5. Cristóbal Montoro, former Minister of Finance

In this sense, he has defended the changes that were carried out at the time to facilitate the entry of the gaming sector to the Autonomous City. “They have given more than expected results. What has happened with the gambling sector is that the transfer of its fiscal headquarters to Ceuta has allowed greater fiscal transparency” of the companies that are dedicated to it.

Thus, they “benefit from lower taxes, but are subject to the Tax Agency. These companies are no longer in other countries or in Gibraltar. Now it is the opposite. These companies come to create wealth and employment, and take a step in terms of transparency. , which is fundamental, “he said.

Montoro has been one of the speakers at the Spanish Economic Forum organized by EL ESPAÑOL and Invertia with the sponsorship of the Government of Ceuta and the Chamber of Commerce. During his speech, he also recalled that he designed the State’s general budgets longevity of democracy, which lasted from 2018 to the end of 2020. “They have shown that they were valid to promote economic growth and social cohesion.”

On the other hand, although he has defended the development of tax incentives, “they are not everything. They need guidance and a framework to respond to opportunities.” In this sense, he has defended that they be used so that Ceuta serves for “the establishment of investment platforms in North Africa“.

For this reason, he considers that the current Ceuta regime “can be refined to move in this direction“, with bonuses to also attract officials and their families to the autonomous city.

On the other hand, he has argued that the Budget Stability Law is fully complied with “when it comes into force again.” Likewise, he has indicated that “the economic recovery is underway”, but also that “there are risks”.

Among them, inflation has stood out. However, he has indicated that “you have to believe the central banks, who say it is temporary.” In this sense, and on the high public debt, he indicates that it is “reassuring” that a large part is in the hands of the European Central Bank.

Reference-www.elespanol.com

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