The Madrid’s community closed the year 2019 with an increase of 3.9% in the collection of regional management taxes, the same year in which new deductions in these taxes came into effect.
This has been detailed by the Minister of Finance and Public Function, Javier Fernández-Lasquetty, in the Plenary of the Assembly of Madrid, where it has affirmed that in 2019 the people of Madrid could already apply the new discounts in the inheritance and donation tax in 2019 for uncles, nephews and brothers.
At the end of the year, a total of 508 million euros, which represents an increase of 23.5% compared to 2018, which represents 97 million more than the previous year.
The same happened with the rest of the taxes managed by the Community, such as Patrimonial Transmissions, which registered an increase in the collection of 48 million, which represents a rise of 4.4%, reaching 1,156 million euros, despite to the lower activity registered in the real estate sector.
For its part, Documented Legal Acts It ended the year with a revenue of 396 million, that is, 12 million more (3.2%) than in 2018.
The head of the Treasury has stressed that these figures show that lowering taxes “does not automatically mean that collection falls in the same proportion, as has been verified again in 2019.”
In addition, Fernandez-Lasquetty has stressed that these data reflect that also “lowering the fiscal pressure encourages business activity, investment is attracted and consumption improves “.
The Madrid councilor recalled that the different governments of the Community of Madrid “have been lowering taxes for 16 years”, which has meant “savings” for the people of Madrid of more than 48,000 million euros.
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