Pedro Sánchez, Prime Minister of Spain. archive photo. | Sergio Perez/Reuters
The Spanish Prime Minister, Pedro Sanchez said on Thursday that tax reform is inevitable in the wake of the coronavirus pandemic, because the country has collected proportionally less fiscal revenue than the European Union average.
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He'll be lucky, they'll be deducting their huge losses during the crisis, - if not going bankrupt. The ones that are solvent will move to tax havens (if they're not already there that is).
Finally I would say. But it will be difficult to do so, as all the big companies like Telefonica, Iberdrola, Santander, BBVA and Inditex hardly exist in Spain, where taxes are concerned. Just those companies have added up together 143 satellite companies in fiscal paradises for the sole reason of avoiding taxes. Big words from Pedro again......but I think it will be a drop on a glowing plate what will be collected. A very good video is going round, explaining all this and how those companies donated 150 million in medical equipment.....you guessed it, so they deduct it from the little profit they officially make in Spain.