Generalitat announces Income Tax break for nearly all Valencian Community residents

THE regional government announced an income tax break that will benefit taxpayers whose earnings do not reach €60,000 a year.

“This will encourage economic activity and employment, while protecting the people who have been hardest hit by inflation,” announced Generalitat president Ximo Puig. 

The reductions will be backdated to January 1 this year, so will apply to 2023’s tax returns.

“While some reduce taxes for the richest, here we are helping most of society reach the end of the month,” he said.  “When the objective is social justice, the route is called fiscal justice.”

The central government in Madrid has not received Puig’s announcement with open arms, although the regional president is a PSOE socialist, as is the president of the Spanish government, Pedro Sanchez.

In his defence, Puig cited the Valencian Community’s status as an autonomous region, giving it sufficient clout to make its own decisions within its permitted areas of competence.

Sources close to the Generalitat quoted in the Spanish media pointed out that last July the region celebrated its 40th anniversary as an autonomous region.

“Puig is authorised to announce a measure that will benefit the majority of Valencian Community residents, however much it irritates the PSOE and the government.,” they said.

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