Oxfam Intermón launches a tax simulator that calculates what citizens’ taxes become
MADRID, 14 May. (EUROPA PRESS) –
A person with an income of more than one million euros contributes practically the same in paying personal income tax and VAT (17% of their total income) as a person who earns just over 20,000 euros (16%), according to Oxfam calculations. Intermon.
The analysis of tax information shows that half of the Spanish population earns less than 20,000 euros per year and that the average tax pressure on income is 16%. However, Oxfam Intermón considers that there is a lot of room to go to gain in sufficiency and progressiveness.
In a recent survey carried out by Oxfam Intermón with more than 4,000 participants, more than half consider that the working classes, the self-employed and the most disadvantaged pay taxes that are too high in relation to the richest, while 6 out of 10 think that great fortunes pay too low taxes.
For this reason, Oxfam Intermón, in collaboration with researchers from the University of Barcelona and with the support of the European Climate Foundation, has launched a tool so that citizens know what type of public goods and services can be financed with the taxes they pay. according to your income level.
As explained by the organization in a statement, the tax simulator allows you to quickly and easily estimate what the taxpayer pays in taxes, what basic goods and services can be financed and their relative position in the distribution of income in Spain.
To do this, the main tax figures of the Spanish tax system have been considered: Personal Income Tax, Corporate Tax, VAT and Wealth Tax.
For Oxfam Intermón, advancing the progressivity of the tax system, expanding the tax bases and making companies and large fortunes pay their fair share according to their economic capacity is essential to successfully face the challenges facing the country.
Among other measures, the entity believes that we must continue to close the gap between the taxation of capital income versus work income, and modify corporate taxation so that large companies contribute what they are entitled to, “without artifices or tricks.” accountants”.
Furthermore, the organization believes that Spain must get involved and promote different initiatives within the G20, but also in Europe to achieve greater taxation on large fortunes.