The Provincial Council of Bizkaia presented this Tuesday in Madrid the main lines of the new fiscal reform promoted by the institution. The initiative aims to attract talent, capture investment, and enhance the territory's competitiveness. During the event, held at the Official College of Architects of Madrid before nearly 200 business representatives and with the presence of Antonio Garamendi, president of the CEOE, Etxanobe stated: "We have not come to Madrid to make comparisons, but I understand that they will know how to value it".
The Deputy General defended Bizkaia's tax autonomy as a "unique tool to boost economic growth and facilitate the arrival of new business projects." According to her explanation, "Bizkaia's tax model does not involve applying generalized tax cuts; it focuses on incentivizing companies and society to be more proactive in common progress. If you are interested in investing in Bizkaia, I assure you that you will find serious and trustworthy companies that keep their word. And in the institutions, you will find closeness, stability, and legal security".
Bizkaia's tax model does not involve applying generalized tax cuts; it focuses on incentivizing companies and society to be more proactive in common progress
Among the most notable measures of the reform is the promotion of business rootedness. The Council proposes a 30% reduction in capital gains generated from company transfers that guarantee business continuity. Furthermore, worker participation in companies will be enhanced with tax advantages of up to 12,000 euros annually for receiving shares, as well as financing facilities for becoming partners.
Attracting and retaining talent is another pillar of the proposal. The new fiscal framework includes a 50% exemption on professional income for individuals establishing themselves in Bizkaia, rising to 60% for those under 36 years old. A deduction for geographical mobility of up to 3,000 euros annually for young people is also included.
We have not come to Madrid to make comparisons, but I understand that they will know how to value it
Housing also holds a prominent place. Private investment for social interest rentals will be incentivized with a 15% deduction for those participating in funds that expand the offer for young people and displaced workers. The reform also includes a 20% deduction for private health insurance and another 20% for expenses in gyms and sports activities.
Finally, Etxanobe emphasized that "all these initiatives seek to strengthen Bizkaia's position as an innovative, competitive, and attractive territory for professional and business development, relying on its own fiscal model that combines economic growth, social cohesion, and opportunity generation".
