A NEW report has confirmed Andalucia has some of the lowest taxes in the country, second only to Madrid.
In only four years, the region has climbed seven places in thee Tax Foundation’s annual rrankings. According to Carolina Espana, Minister of Economy, Finance and European Funds, “We’ve gone from fiscal hell in 2018, to ranking number two behind the capital.”
“It’s a hallmark of our politics and we know that it works because other communities are implementing the tax reductions we started years ago”.
According to the Partido Popular Minister, the policies will make Andalucia a ‘magnet for investment’. She said: “It’s been shown that tax cuts do not imply a drop in tax collection, but quite the opposite”.
Since 2018, the region has gained 400,000 taxpayers, amounting to €7.777 million in payments. Ministers are confident that this trend will continue due to the region’s ‘strong support for entrepreneurship’.
“Over the last five years our region has stopped being in last place and started to grow, even leading in some areas”.
In particular, she highlighted growth in exports and investments. While international investment nationwide has fallen by 15% in the past four years, investment in Andalucia has doubled.
The Minister assured Andalucians that despite lowering taxes ‘wherever they can’, the 2024 Budget would ‘defend public services and the welfare state’, prioritising education, health, local councils and support for businesses.
The budget is also set to continue the previous governments ‘financial revolution’. Following Juanma Moreno’s six tax cuts which saved businesses and families a massive €900 million.
Local councils are backing the measures, with the Junta of Sevilla investing almost €700 million euros in public projects.