CAEB calls for suspension of taxes.

CAEB calls for suspension of taxes. | P. Pellicer

Majorca Daily Bulletin reporterMajorca06/04/2020 09:45
TW
0

The President of the Confederation of Business Associations of the Balearic Islands, or CAEB, Carmen Planas, has called for VAT, Personal Income Tax and Social Security payments to be suspended now that the State of Emergency has been extended.

"It is urgent to adopt new fiscal measures and help companies to prevent this extension from further exacerbating the economic crisis unleashed as a result of the restrictions imposed in the fight against COVID-19," she said.

She also said it is no longer possible simply to postpone the tax charges because processing them takes time and "many companies are already on the verge of closure."

Distressing situation

The CAEB President pointed out that thousands of workers and companies have been living in a "distressing" situation for weeks without income and demanded measures be taken to provide liquidity to companies "because financing does not flow at the desired speed, but employers still have to pay taxes to different administrations.”

Planas believes that it is extremely important to accelerate liquidity mechanisms for companies, increase the volume of lines of guarantees approved by the Government and speed up the ERTE process.

"Sequential lack of confidence must be addressed to reactivate the economy," she said.