The President of Spain’s small business association CEPYME, has called on the Government to lower the rate of corporation tax levied on small- and medium-sized enterprises (SMEs) in Spain, as part of its plans to reform taxation. He also recommended a cut in the SME corporate tax rate to about 15 percent. It has also been suggested that the Spanish Government should create a new fiscal framework that will increase the competitiveness of the manufacturing industries, boost investment, and promote entrepreneurship. CEPYME considers that the current value-added tax (VAT) structure should be maintained, and the reduced rates applied to goods and services in strategic sectors kept in place.
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