Economic Sustainability
#11Key Findings
Spain falls into the sample’s upper-middle ranks (rank 11) in the area of economic sustainability.
A circular economy strategy aims to reduce material consumption and waste by 2030. However, Spain’s progress in this area remains slow. The Center for Critical Infrastructure Protection coordinates activities associated with infrastructure protection. An emissions-reduction plan establishes specific national targets, with the strategy broken into sectoral action plans.
A recent labor reform introduced stricter regulations on temporary contracts, while giving firms more hiring and firing flexibility. Unemployment benefits have been made more compatible with training programs. Women’s comparatively low labor force participation rate is likely due to tax disincentives for second earners.
The various autonomous regions have significant tax-system differences. Taxes on low- and medium-income households have been reduced, while those on high-income earners have been increased. Debt levels remain a concern, with observers warning about a large structural deficit. Environmental taxes are lower than the OECD average.
A circular economy strategy aims to reduce material consumption and waste by 2030. However, Spain’s progress in this area remains slow. The Center for Critical Infrastructure Protection coordinates activities associated with infrastructure protection. An emissions-reduction plan establishes specific national targets, with the strategy broken into sectoral action plans.
A recent labor reform introduced stricter regulations on temporary contracts, while giving firms more hiring and firing flexibility. Unemployment benefits have been made more compatible with training programs. Women’s comparatively low labor force participation rate is likely due to tax disincentives for second earners.
The various autonomous regions have significant tax-system differences. Taxes on low- and medium-income households have been reduced, while those on high-income earners have been increased. Debt levels remain a concern, with observers warning about a large structural deficit. Environmental taxes are lower than the OECD average.
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How committed is the government to driving the transition toward a circular economy?
10
9
9
The government is clearly committed to transitioning to a circular economy.
8
7
6
7
6
The government is largely committed to transitioning to a circular economy.
5
4
3
4
3
The government is somewhat committed to transitioning to a circular economy.
2
1
1
The government is not at all committed to transitioning to a circular economy.
The Spanish government recognizes the importance of incorporating the circular economy to promote the shift toward a sustainable development model. In June 2020, the Council of Ministers approved the Spanish Circular Economy Strategy 2030. The strategy aligns with the objectives of the two EU Circular Economy Action Plans, the European Green Pact, and the 2030 Agenda for Sustainable Development. The strategy sets several comprehensive quantitative objectives to be achieved by 2030, including reducing domestic material consumption by 30% relative to national GDP, using 2010 as a reference, and reducing waste by 15% compared to 2010 waste levels.
Three-year action plans outline the administration’s measures for promoting the circular economy across different sectoral policies. The first action plan includes 116 measures to be implemented by 11 ministries.
The Circular Economy Council is responsible for monitoring the implementation and drafting of annual improvement proposals. The Interministerial Commission for Circular Economy comprises representatives from ministries whose policies directly impact the transition toward a circular economy. This commission must hold a plenary session at least once a year to coordinate line ministries and their sector policies in efforts to foster a circular economy.
The RRP includes a specific priority area (Component 12) titled “Spain’s Industrial Policy 2030.” Adopted in March 2022, this component comprises a series of reforms and investments intended to lay the foundation for implementing the Circular Economy Strategy and waste regulations (Government of Spain 2022).
By 2021, Spain ranked among the European countries with a lower circular material use rate. The electoral context has slowed down the implementation of the plans set forth in the government’s commitment.
Citations:
Government of Spain. 2022. “PERTE en Economía Circular.” https://www.miteco.gob.es/es/calidad-y-evaluacion-ambiental/temas/economia-circular/perte-en-ec.html
European Court of Audit. 2023. “Circular Economy.”
Three-year action plans outline the administration’s measures for promoting the circular economy across different sectoral policies. The first action plan includes 116 measures to be implemented by 11 ministries.
The Circular Economy Council is responsible for monitoring the implementation and drafting of annual improvement proposals. The Interministerial Commission for Circular Economy comprises representatives from ministries whose policies directly impact the transition toward a circular economy. This commission must hold a plenary session at least once a year to coordinate line ministries and their sector policies in efforts to foster a circular economy.
The RRP includes a specific priority area (Component 12) titled “Spain’s Industrial Policy 2030.” Adopted in March 2022, this component comprises a series of reforms and investments intended to lay the foundation for implementing the Circular Economy Strategy and waste regulations (Government of Spain 2022).
By 2021, Spain ranked among the European countries with a lower circular material use rate. The electoral context has slowed down the implementation of the plans set forth in the government’s commitment.
Citations:
Government of Spain. 2022. “PERTE en Economía Circular.” https://www.miteco.gob.es/es/calidad-y-evaluacion-ambiental/temas/economia-circular/perte-en-ec.html
European Court of Audit. 2023. “Circular Economy.”
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How committed is the government to updating and protecting critical infrastructure?
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9
9
The government is clearly committed to updating basic technical infrastructure.
8
7
6
7
6
The government is largely committed to updating basic technical infrastructure.
5
4
3
4
3
The government is somewhat committed to updating basic technical infrastructure.
2
1
1
The government is not at all committed to updating basic technical infrastructure.
The National Critical Infrastructure Protection Plan (PNPIC), approved in 2016, contains criteria and guidelines for mobilizing operational responses and measures to ensure the constant modification and up-to-date protection of critical infrastructures. The National Security Strategy adopted in 2021 includes the protection of critical infrastructure as a key to addressing threats to Spain’s interests and values.
The PNPIC has frequently been updated. The Administration’s Strategic Sector Plan in 2021 involves the designation of 80 new critical operators and 137 new critical infrastructures. Specific action plans refer to the financial system, nuclear industry, energy (divided into oil, gas, and electricity), transport (divided into air, rail, maritime, road, and urban transport), water, chemical industry, space, ICT, food, health, and facilities and research.
During the review period, the Royal Decree Law 7/2022 of March 29 was adopted to ensure the security of fifth-generation electronic communications networks and services. According to the law, the National Security Scheme for 5G networks and services shall be reviewed at least every four years or whenever circumstances so advise, under the responsibility of the Minister of Economy and Digital Transformation. Spain ranks fourth among the world’s countries in the Global Cybersecurity Index 2020.
The Center for Critical Infrastructure Protection (CNPIC) is the body within the Ministry of the Interior responsible for coordinating and supervising all activities assigned to the Secretary of State for Security regarding the protection of critical infrastructures in the national territory. The CNPIC maintains the National Critical Infrastructure Protection Plan and determines the level of criticality. The CNPIC manages a network of more than 300 entities and around 1,200 security plans, including 12 ministerial departments and autonomous community administrations, to facilitate horizontal and vertical policy coordination and implementation.
Citations:
Royal Decree Law 7/2022 of 29 March.
The PNPIC has frequently been updated. The Administration’s Strategic Sector Plan in 2021 involves the designation of 80 new critical operators and 137 new critical infrastructures. Specific action plans refer to the financial system, nuclear industry, energy (divided into oil, gas, and electricity), transport (divided into air, rail, maritime, road, and urban transport), water, chemical industry, space, ICT, food, health, and facilities and research.
During the review period, the Royal Decree Law 7/2022 of March 29 was adopted to ensure the security of fifth-generation electronic communications networks and services. According to the law, the National Security Scheme for 5G networks and services shall be reviewed at least every four years or whenever circumstances so advise, under the responsibility of the Minister of Economy and Digital Transformation. Spain ranks fourth among the world’s countries in the Global Cybersecurity Index 2020.
The Center for Critical Infrastructure Protection (CNPIC) is the body within the Ministry of the Interior responsible for coordinating and supervising all activities assigned to the Secretary of State for Security regarding the protection of critical infrastructures in the national territory. The CNPIC maintains the National Critical Infrastructure Protection Plan and determines the level of criticality. The CNPIC manages a network of more than 300 entities and around 1,200 security plans, including 12 ministerial departments and autonomous community administrations, to facilitate horizontal and vertical policy coordination and implementation.
Citations:
Royal Decree Law 7/2022 of 29 March.
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How committed is the government to fully decarbonizing the energy system by 2050?
10
9
9
The government is clearly committed to transitioning to a decarbonized energy system.
8
7
6
7
6
The government is largely committed to transitioning to a decarbonized energy system.
5
4
3
4
3
The government is somewhat committed to transitioning to a decarbonized energy system.
2
1
1
The government is not at all committed to transitioning to a decarbonized energy system.
In December 2020, Spain adopted the Integrated Energy and Climate Plan (ENCP) 2021–2030, which includes measures on both mitigation and adaptation. The long-term goal of the plan is to make Spain carbon neutral by 2050, achieve a 90% reduction in GHG emissions from 1990 levels, and base the electricity system exclusively on renewable sources by 2050. In May 2021, the Climate Change and Energy Transition Law was passed, establishing specific national targets for 2030 and detailed measures to fulfill these objectives. For instance, financial resources and environmental and energy sustainability criteria must be incorporated into all public procurement in a cross-cutting and mandatory manner.
The overall strategy is broken down into sector-specific action plans, such as The Self-consumption Roadmap and The Renewable Hydrogen Roadmap. In December 2022, the Council of Ministers approved the Strategic Project for Economic Recovery and Transformation, focusing on the industrial decarbonization of sectors like non-metallic mineral products, the chemical industry, oil refining, metallurgy, and paper manufacturing.
The Ministry for the Ecological Transition and the Demographic Challenge (MITECO) is responsible for the vertical and horizontal coordination and implementation of these strategies. Since early 2022, autonomous communities must report on their energy and climate plans, detailing measures adopted and planned in line with the Spanish Energy Transition Law’s objectives.
As part of the RRP, the government moved its 2025 energy transition targets forward to 2023 and increased investments, with almost 40% of these investments earmarked for the ecological transition. The European Commission assessed the implementation of the 2023 targets as “well under way” (European Commission 2023).
Citations:
Law 7/2021 of 20 May
European Commission. 2023. “Country Report – Spain.” Brussels. SWD(2023) 609 final. https://economy-finance.ec.europa.eu/system/files/2023-05/SWD_2023_609_1_EN_autre_document_travail_service_part1_v4.pdf
The overall strategy is broken down into sector-specific action plans, such as The Self-consumption Roadmap and The Renewable Hydrogen Roadmap. In December 2022, the Council of Ministers approved the Strategic Project for Economic Recovery and Transformation, focusing on the industrial decarbonization of sectors like non-metallic mineral products, the chemical industry, oil refining, metallurgy, and paper manufacturing.
The Ministry for the Ecological Transition and the Demographic Challenge (MITECO) is responsible for the vertical and horizontal coordination and implementation of these strategies. Since early 2022, autonomous communities must report on their energy and climate plans, detailing measures adopted and planned in line with the Spanish Energy Transition Law’s objectives.
As part of the RRP, the government moved its 2025 energy transition targets forward to 2023 and increased investments, with almost 40% of these investments earmarked for the ecological transition. The European Commission assessed the implementation of the 2023 targets as “well under way” (European Commission 2023).
Citations:
Law 7/2021 of 20 May
European Commission. 2023. “Country Report – Spain.” Brussels. SWD(2023) 609 final. https://economy-finance.ec.europa.eu/system/files/2023-05/SWD_2023_609_1_EN_autre_document_travail_service_part1_v4.pdf
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To what extent do existing labor market institutions support or hinder the transition to an adaptive labor market?
10
9
9
Labor market institutions are fully aligned with the goal of an adaptable labor market.
8
7
6
7
6
Labor market institutions are largely aligned with the goal of an adaptable labor market.
5
4
3
4
3
Labor market institutions are only somewhat aligned with the goal of an adaptable labor market.
2
1
1
Labor market institutions are not at all aligned with the goal of an adaptable labor market.
One of the RRP goals is to create “new policies for a dynamic, resilient, and inclusive labor market.” Following this plan, the Spanish Strategy of Active Support to Employment 2021–2024 was approved, and in April 2022, a labor reform came into effect. The reform introduced stricter restrictions on temporary contracts, reducing temporary employment in the private sector, while increasing flexibility in employment contracts. This enables companies to efficiently mobilize and demobilize labor in response to fluctuations in the demand for their products and services.
During periods of short-term economic shocks, companies have the flexibility to suspend labor contracts or reduce working days, helping them navigate crises without costly redundancies. In cases where the challenges faced by a company are not linked to a temporary downturn in the business cycle but are caused by a more enduring shift in demand, a training plan for the affected workers must be formulated.
Law 3/2023, enacted on February 28, aims to transform the decentralized Servicio Público de Empleo Estatal (SEPE) into a state agency to enhance speed, agility, and flexibility in active labor policy. The law prioritizes job training, offering two types of training contracts: alternation training, which combines paid work with training, and training for professional practice suitable to the level of studies.
Coordination and planning of employment policy between the Spanish Employment Agency and the public employment services of the autonomous communities is a priority. Local corporations, other public entities, and private entities involved in employment policy implementation will collaborate with the Spanish Employment Agency. The law also aims to improve the effectiveness of public employment services through continuous evaluation. The Civil Service Law adopted in December 2023 reinforces transparency and agility in selection processes and performance evaluation.
Citations:
Law 3/2023 of 28 February
During periods of short-term economic shocks, companies have the flexibility to suspend labor contracts or reduce working days, helping them navigate crises without costly redundancies. In cases where the challenges faced by a company are not linked to a temporary downturn in the business cycle but are caused by a more enduring shift in demand, a training plan for the affected workers must be formulated.
Law 3/2023, enacted on February 28, aims to transform the decentralized Servicio Público de Empleo Estatal (SEPE) into a state agency to enhance speed, agility, and flexibility in active labor policy. The law prioritizes job training, offering two types of training contracts: alternation training, which combines paid work with training, and training for professional practice suitable to the level of studies.
Coordination and planning of employment policy between the Spanish Employment Agency and the public employment services of the autonomous communities is a priority. Local corporations, other public entities, and private entities involved in employment policy implementation will collaborate with the Spanish Employment Agency. The law also aims to improve the effectiveness of public employment services through continuous evaluation. The Civil Service Law adopted in December 2023 reinforces transparency and agility in selection processes and performance evaluation.
Citations:
Law 3/2023 of 28 February
To what extent do existing labor market institutions support or hinder the transition to an inclusive labor market?
10
9
9
Labor market institutions are fully aligned with the goal of an inclusive labor market.
8
7
6
7
6
Labor market institutions are largely aligned with the goal of an inclusive labor market.
5
4
3
4
3
Labor market institutions are only somewhat aligned with the goal of an inclusive labor market.
2
1
1
Labor market institutions are not at all aligned with the goal of an inclusive labor market.
According to the OECD, the activation requirements for the unemployed are lower than in most other OECD countries. In December 2023, the government agreed to increase unemployment benefits for the first six months and make them compatible with employment. After the first six months, the subsidies are reduced to incentivize the unemployed to return to the labor market. However, the law was not passed by parliament on January 10, 2024, due to the planned cuts in unemployment benefits for those over 50. It will probably be resubmitted (Royal Decree Law 7/2023 of December 19).
To encourage and empower people to combine accessible out-of-work benefits with active labor market programs, unemployment benefits are compatible with grants and subsidies for attending vocational or on-the-job training or for training placements. In 2022 the Council of Ministers regulated the Minimum Basic Income (IMV) as compatible with income from work or self-employment, as well as grants and subsidies for attending vocational training, to improve the opportunities for social and employment inclusion for those who receive this benefit.
The OECD suggests that Spain’s low female labor force participation rate may be attributed to existing tax disincentives for second earners. Unlike many OECD countries that employ individual-based income taxation, Spain offers joint declaration with reductions based on household income composition, which benefits single-income households but creates disincentives for second income earners.
The 2021 labor market law fostered the promotion of training for young people through financial incentives. Law 3/2022 creates an integrated system for vocational education, while the Law 3/2023 of February 28 on Employment implements instruments for active employment policies and a strategic plan for vocational training. Although participation in vocational training remains limited, it is increasing rapidly. Law 3/2023 also aims to promote equality between women and men in access, permanence, and promotion in employment, as well as the reconciliation of personal, family, and working life. It includes measures aimed at facilitating geographical mobility and promoting recruitment in sectors of activity other than those in which individuals would normally have worked.
Law 10/2021 established a legal framework and guarantees for the extension and standardization of remote work.
Citations:
OECD. 2023. “Financial Disincentive to Return to Work (Indicator).” doi: 10.1787/3ef6e9d7-en
OECD. 2023. “Economic Surveys: Spain 2023.” https://read.oecd-ilibrary.org/economics/oecd-economic-surveys-spain-2023_5b50cc51-en#page4
To encourage and empower people to combine accessible out-of-work benefits with active labor market programs, unemployment benefits are compatible with grants and subsidies for attending vocational or on-the-job training or for training placements. In 2022 the Council of Ministers regulated the Minimum Basic Income (IMV) as compatible with income from work or self-employment, as well as grants and subsidies for attending vocational training, to improve the opportunities for social and employment inclusion for those who receive this benefit.
The OECD suggests that Spain’s low female labor force participation rate may be attributed to existing tax disincentives for second earners. Unlike many OECD countries that employ individual-based income taxation, Spain offers joint declaration with reductions based on household income composition, which benefits single-income households but creates disincentives for second income earners.
The 2021 labor market law fostered the promotion of training for young people through financial incentives. Law 3/2022 creates an integrated system for vocational education, while the Law 3/2023 of February 28 on Employment implements instruments for active employment policies and a strategic plan for vocational training. Although participation in vocational training remains limited, it is increasing rapidly. Law 3/2023 also aims to promote equality between women and men in access, permanence, and promotion in employment, as well as the reconciliation of personal, family, and working life. It includes measures aimed at facilitating geographical mobility and promoting recruitment in sectors of activity other than those in which individuals would normally have worked.
Law 10/2021 established a legal framework and guarantees for the extension and standardization of remote work.
Citations:
OECD. 2023. “Financial Disincentive to Return to Work (Indicator).” doi: 10.1787/3ef6e9d7-en
OECD. 2023. “Economic Surveys: Spain 2023.” https://read.oecd-ilibrary.org/economics/oecd-economic-surveys-spain-2023_5b50cc51-en#page4
To what extent do existing labor market institutions support or hinder the mitigation of labor market risks?
10
9
9
Labor market institutions are fully aligned with the goal of protecting individuals against labor market risks.
8
7
6
7
6
Labor market institutions are largely aligned with the goal of protecting individuals against labor market risks.
5
4
3
4
3
Labor market institutions are only somewhat aligned with the goal of protecting individuals against labor market risks.
2
1
1
Labor market institutions are not at all aligned with the goal of protecting individuals against labor market risks.
For the first time, Law 2/2023 establishes that all individuals participating in external training or academic internships as part of company, institution, or entity training programs must pay social security contributions, thereby extending existing social insurance schemes to previously excluded categories.
The labor market law of 2021 reinstated the precedence of sectoral agreements over firm-level agreements for wage negotiations. Higher-level agreements take priority over firm-level ones, with specific exceptions in areas such as overtime payment, distribution of working time, and conciliation. The new labor regulation encompasses agreements on more than 12 different items, including criteria to balance the representation of men and women in training contracts, plans for reducing temporary employment, and access to training programs for fixed-term employees, among others. In this context, the reform has the potential to enhance the role of collective bargaining and social dialogue. All workers may benefit from improvements in protection negotiated by the unions with employers.
The lack of a unique personal ID has historically created several problems for the portability of social rights. Moreover, procedures are not uniform across autonomous communities. These regions use different operational tools, request different ID numbers for primary identification, and adopt varying strategies to identify people when the primary ID number does not exist (Muñoz de Bustillo, 2022). Autonomous communities also employ different strategies for undocumented persons. The Organic Law 3/2018, of 5 December, on the Protection of Personal Data and the Guarantee of Digital Rights, includes the right to portability. The OECD suggests enhancing regional transferability of social and housing rights to improve system efficiency and enable individuals to leverage employment opportunities in more distant locations (OECD 2023). Additionally, improving communication with households eligible for the minimum income guarantee could increase its utilization.
Citations:
Rafael Muñoz de Bustillo. 2022. “The 2022 Spanish Labour Reform.” International Review of Economic Policy 4 (1): 62-80.
OECD. 2023. “Economic Surveys: Spain 2023.” https://read.oecd-ilibrary.org/economics/oecd-economic-surveys-spain-2023_5b50cc51-en#page4
The labor market law of 2021 reinstated the precedence of sectoral agreements over firm-level agreements for wage negotiations. Higher-level agreements take priority over firm-level ones, with specific exceptions in areas such as overtime payment, distribution of working time, and conciliation. The new labor regulation encompasses agreements on more than 12 different items, including criteria to balance the representation of men and women in training contracts, plans for reducing temporary employment, and access to training programs for fixed-term employees, among others. In this context, the reform has the potential to enhance the role of collective bargaining and social dialogue. All workers may benefit from improvements in protection negotiated by the unions with employers.
The lack of a unique personal ID has historically created several problems for the portability of social rights. Moreover, procedures are not uniform across autonomous communities. These regions use different operational tools, request different ID numbers for primary identification, and adopt varying strategies to identify people when the primary ID number does not exist (Muñoz de Bustillo, 2022). Autonomous communities also employ different strategies for undocumented persons. The Organic Law 3/2018, of 5 December, on the Protection of Personal Data and the Guarantee of Digital Rights, includes the right to portability. The OECD suggests enhancing regional transferability of social and housing rights to improve system efficiency and enable individuals to leverage employment opportunities in more distant locations (OECD 2023). Additionally, improving communication with households eligible for the minimum income guarantee could increase its utilization.
Citations:
Rafael Muñoz de Bustillo. 2022. “The 2022 Spanish Labour Reform.” International Review of Economic Policy 4 (1): 62-80.
OECD. 2023. “Economic Surveys: Spain 2023.” https://read.oecd-ilibrary.org/economics/oecd-economic-surveys-spain-2023_5b50cc51-en#page4
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To what extent do existing tax institutions and procedures support or hinder adequate tax revenue flows?
10
9
9
The tax system is fully aligned with the goals of ensuring adequate tax revenues.
8
7
6
7
6
The tax system is largely aligned with the goals of ensuring adequate tax revenues.
5
4
3
4
3
The tax system is only somewhat aligned with the goals of ensuring adequate tax revenues.
2
1
1
The tax system is not at all aligned with the goals of ensuring adequate tax revenues.
According to the OECD, tax compliance in Spain has improved recently. Spain demonstrates commendable performance in tax compliance and administration, excelling in the digitalization of its tax processes. This digital advancement helps reduce tax arrears and lowers compliance costs. There is potential for further improvement by allocating more resources to the Tax Administration Agency to enhance system efficiency. As outlined in the RRP, the fiscal system is being modernized to reduce the informal economy and tax fraud by increasing staff and tax investigations. Tax reforms within the RRP, aligned with recommendations from an expert committee, aim to align Spain’s revenue-to-GDP ratio more closely with the EU average. These reforms focus on bolstering corporate, wealth, and environmental taxation while reducing tax exemptions. However, experts note that these changes are still pending, as Spain needs to improve tax revenue to balance the increased public deficit accumulated over the last decade. In late 2022, a tax reform was implemented, raising the asset tax for wealthier residents while reducing it for more modest families (see also “Policies Targeting Tax Equity”).
Citations:
Instituto de Estudios Fiscales. 20122. Libro blanco sobre la reforma tributaria. Madrid: Instituto de Estudios Fiscales.
Citations:
Instituto de Estudios Fiscales. 20122. Libro blanco sobre la reforma tributaria. Madrid: Instituto de Estudios Fiscales.
To what extent do existing tax institutions and procedures consider equity aspects?
10
9
9
The tax system is fully aligned with the goal of ensuring equity.
8
7
6
7
6
The tax system is largely aligned with the goal of ensuring equity.
5
4
3
4
3
The tax system is only somewhat aligned with the goal of ensuring equity.
2
1
1
The tax system is not at all aligned with the goal of ensuring equity.
Horizontal equity in Spain’s tax system is affected by the asymmetrical tax competence of autonomous communities. There are two distinct models: the common regime, applied uniformly across most autonomous communities, and the foral regime, which grants broad fiscal and financial self-governance to the Basque Country and Navarre, allowing them to set and regulate their own tax systems. Significant regional differences exist among the common regime autonomous communities, leading to varying tax rates for similar economic players in different regions. The main differences relate to taxes on revenues, donations, and asset transfers.
To improve horizontal equity, a finance ministry expert committee recommended harmonizing the tax system across autonomous communities in 2022. However, it is unlikely this measure will be implemented soon. Some regional governments, particularly Madrid, have faced criticism for cutting taxes on revenues and other items.
Regarding vertical equity, Spain’s tax revenues relative to GDP are modest, primarily driven by labor taxation. Social security contributions from workers and the self-employed are regressive, increasing inequality by reducing the redistributive effect of direct taxation. In 2022, the proportion of labor taxes to both GDP and total tax revenues was slightly below the EU average, as were revenues from consumption and environmental taxes. Spain’s tax scheme reduces inequality less than the EU average. To increase tax revenues, there is potential to leverage tax bases more extensively, such as implementing wealth-related taxes and more broadly applying the “polluter pays” principle (European Commission 2023).
The RRP addresses tax system reforms, following the EC recommendation to make taxes more progressive. The 2021 budget included increased tax rates for high-income individuals and corporations. In 2023, the government implemented tax reductions benefiting low- and medium-income households and small and medium-sized enterprises, while raising taxes for wealthier individuals, especially those with substantial capital income. A “solidarity tax” was introduced in 2023 on assets worth at least €3 million, impacting wealth, personal income, and corporate taxes, and generating €635 million in revenue.
Citations:
European Commission. 2023. “Country Report – Spain.” Brussels, May 24. SWD(2023) 609 final. https://economy-finance.ec.europa.eu/system/files/2023-05/SWD_2023_609_1_EN_autre_document_travail_service_part1_v4.pdf
World Inequality Database, access: https://wid.world/country/spain/
Luis Ayala, ed. 2022. Desigualdad y pacto social. Barcelona: La Caixa.
To improve horizontal equity, a finance ministry expert committee recommended harmonizing the tax system across autonomous communities in 2022. However, it is unlikely this measure will be implemented soon. Some regional governments, particularly Madrid, have faced criticism for cutting taxes on revenues and other items.
Regarding vertical equity, Spain’s tax revenues relative to GDP are modest, primarily driven by labor taxation. Social security contributions from workers and the self-employed are regressive, increasing inequality by reducing the redistributive effect of direct taxation. In 2022, the proportion of labor taxes to both GDP and total tax revenues was slightly below the EU average, as were revenues from consumption and environmental taxes. Spain’s tax scheme reduces inequality less than the EU average. To increase tax revenues, there is potential to leverage tax bases more extensively, such as implementing wealth-related taxes and more broadly applying the “polluter pays” principle (European Commission 2023).
The RRP addresses tax system reforms, following the EC recommendation to make taxes more progressive. The 2021 budget included increased tax rates for high-income individuals and corporations. In 2023, the government implemented tax reductions benefiting low- and medium-income households and small and medium-sized enterprises, while raising taxes for wealthier individuals, especially those with substantial capital income. A “solidarity tax” was introduced in 2023 on assets worth at least €3 million, impacting wealth, personal income, and corporate taxes, and generating €635 million in revenue.
Citations:
European Commission. 2023. “Country Report – Spain.” Brussels, May 24. SWD(2023) 609 final. https://economy-finance.ec.europa.eu/system/files/2023-05/SWD_2023_609_1_EN_autre_document_travail_service_part1_v4.pdf
World Inequality Database, access: https://wid.world/country/spain/
Luis Ayala, ed. 2022. Desigualdad y pacto social. Barcelona: La Caixa.
To what extent do existing tax institutions and procedures minimize compliance and collection costs?
10
9
9
The tax system is fully aligned with the goal of minimizing compliance and collection costs.
8
7
6
7
6
The tax system is largely aligned with the goal of minimizing compliance and collection costs.
5
4
3
4
3
The tax system is only somewhat aligned with the goal of minimizing compliance and collection costs.
2
1
1
The tax system is not at all aligned with the goal of minimizing compliance and collection costs.
According to the Instituto de Estudios Fiscales, in 2022, a significant portion of the Spanish population – one in two citizens – felt they did not know what taxes were for, and many were unaware of the taxes they were paying. Concurrently, one in four people believed the state’s role should be minimal, intervening only to correct market imbalances. However, most citizens would pass a tax knowledge test, as evidenced by the percentage of correct answers.
As part of the RRP, the Tax Agency is developing a new model for remote taxpayer interaction and information services. The Integral Digital Administration aims to increase administrative capacities for tax collection and minimize compliance costs for taxpayers. The agency will assist taxpayers through multiple channels, streamlining service management and delivery. This centralized control enhances service quality and facilitates the development of appropriate IT tools and training methods.
Citations:
Tax Administration Agency. 2023. “Report on the Comprehensive Digital Administration (ADI) project.” https://sede.agenciatributaria.gob.es/static_files/Sede/Agencia_Tributaria/Planificacion/Plan_Recuperacion/Informe-sobre-el-proyecto-ADI.pdf
Instituto de Estudios Fiscales. 2023. “Barómetro fiscal.” https://www.ief.es/investigacion/soc_barometro.vbhtml
Committee of Experts. 2022. “White Paper on Tax Reform.” Institute of Fiscal Studies https://www.ief.es/docs/investigacion/comiteexpertos/LibroBlancoReformaTributaria_2022.pdf
As part of the RRP, the Tax Agency is developing a new model for remote taxpayer interaction and information services. The Integral Digital Administration aims to increase administrative capacities for tax collection and minimize compliance costs for taxpayers. The agency will assist taxpayers through multiple channels, streamlining service management and delivery. This centralized control enhances service quality and facilitates the development of appropriate IT tools and training methods.
Citations:
Tax Administration Agency. 2023. “Report on the Comprehensive Digital Administration (ADI) project.” https://sede.agenciatributaria.gob.es/static_files/Sede/Agencia_Tributaria/Planificacion/Plan_Recuperacion/Informe-sobre-el-proyecto-ADI.pdf
Instituto de Estudios Fiscales. 2023. “Barómetro fiscal.” https://www.ief.es/investigacion/soc_barometro.vbhtml
Committee of Experts. 2022. “White Paper on Tax Reform.” Institute of Fiscal Studies https://www.ief.es/docs/investigacion/comiteexpertos/LibroBlancoReformaTributaria_2022.pdf
To what extent do existing tax institutions and procedures internalize negative and positive externalities?
10
9
9
The tax system is fully aligned with the goal of internalizing externalities.
8
7
6
7
6
The tax system is largely aligned with the goal of internalizing externalities.
5
4
3
4
3
The tax system is only somewhat aligned with the goal of internalizing externalities.
2
1
1
The tax system is not at all aligned with the goal of internalizing externalities.
Spain performs slightly below the OECD average in green budgeting. In 2021, environment-related tax revenues amounted to 1.8% of GDP, compared to the OECD average of 2.0%. Pollution and resource taxes on waste, water pollution, and abstraction account for a small portion of environmental tax revenue. Additionally, energy and transport taxes contribute minimally to this category.
While autonomous communities have a history of legislating environmental taxes, the Spanish government adopted its first green taxes in 2023. A finance ministry expert committee recommended increasing environmental taxes, including higher rates on car registration, diesel, and agricultural fuel, and new taxes on airplane tickets.
Investments in knowledge transfer and job creation benefit from special tax treatment. Spain’s corporate tax rate within the eurozone is moderate at 25%, with incentives and tax exemptions reducing the effective rate to around 20%. Spanish regulations permit the carryforward of unused tax credits for research, development, and innovation (RDI) investments. Spain has one of the most advantageous “patent box” regimes in the EU, allowing up to a 60% exemption of net income from specific intangible assets.
Tax policies vary among autonomous communities. For example, the Community of Madrid approved a tax reduction for foreign investors in 2023, targeting individuals who have lived outside Spain for at least five years and wish to invest and transfer their tax residence to the region. Specifically, 20% of the total investment in financial assets or real estate may be deducted.
Citations:
OECD. 2023. “Countries on Green Budgeting.”
https://www.oecd.org/publication/government-at-a-glance/2023/country-notes/spain-a91a38d3/
While autonomous communities have a history of legislating environmental taxes, the Spanish government adopted its first green taxes in 2023. A finance ministry expert committee recommended increasing environmental taxes, including higher rates on car registration, diesel, and agricultural fuel, and new taxes on airplane tickets.
Investments in knowledge transfer and job creation benefit from special tax treatment. Spain’s corporate tax rate within the eurozone is moderate at 25%, with incentives and tax exemptions reducing the effective rate to around 20%. Spanish regulations permit the carryforward of unused tax credits for research, development, and innovation (RDI) investments. Spain has one of the most advantageous “patent box” regimes in the EU, allowing up to a 60% exemption of net income from specific intangible assets.
Tax policies vary among autonomous communities. For example, the Community of Madrid approved a tax reduction for foreign investors in 2023, targeting individuals who have lived outside Spain for at least five years and wish to invest and transfer their tax residence to the region. Specifically, 20% of the total investment in financial assets or real estate may be deducted.
Citations:
OECD. 2023. “Countries on Green Budgeting.”
https://www.oecd.org/publication/government-at-a-glance/2023/country-notes/spain-a91a38d3/
Graph View
To what extent do existing budgetary institutions and procedures support or hinder sustainable budgeting?
10
9
9
Budgetary institutions and policies are fully aligned with the goals of sustainable budgeting.
8
7
6
7
6
Budgetary institutions and policies are largely aligned with the goals of sustainable budgeting.
5
4
3
4
3
Budgetary institutions and policies are only somewhat aligned with the goals of sustainable budgeting.
2
1
1
Budgetary institutions and policies are not at all aligned with the goals of sustainable budgeting.
Since the beginning of the COVID-19 crisis, and during the period under review, the suspension of EU fiscal rules provided various levels of government with considerable discretion over overall debt limits. However, this also introduced uncertainty about the normative context of their medium-term budget planning. AIReF warned that debt will start to rise in 2025 if the structural deficit of 4% is not reduced. It pointed out that the RRP is a good opportunity to combine fiscal stimulus with deficit containment. In this regard, the RRP should be seen as an opportunity for the consolidation of public finances. Moreover, the budget for 2024 was issued by an acting government, which supports this direction.
The amendment to section 135 of the Spanish constitution aims to enforce the principle of budgetary stability, binding all public administrations, and to achieve economic and social sustainability. Loans intended for servicing the interest and capital of the state’s public debt will always be considered part of budgetary expenditures, and their repayment shall be accorded absolute priority. These allocations cannot be altered or amended as long as they adhere to the terms of the issuance.
Article 135 does not refer to controls and sanctions on sub-central authorities in case of noncompliance with debt limits. However, Organic Law 2/2012 of 27 April on Budgetary Stability and Financial Sustainability specifies the corrective and repressive measures the Ministry of Finance and Public Administrations can take in case of noncompliance. According to Article 32, if the budget settlement results in a surplus, this surplus shall be used to reduce the level of net indebtedness. In the case of the social security system, the surplus shall be applied as a priority to the Reserve Fund to meet the system’s future needs.
In general terms, the budgetary process is very transparent. The government delivers its budgetary plan to the European Commission to show how the budget includes the economic policy recommendations presented by the Commission, as well as the long-term planning commitments of the government within the RRP.
The SDGs are mentioned in the 2023 budget law. Virtually all budgetary policies are in harmony with at least two Sustainable Development Goals (SDGs), with most policies aligning with between 4 and 7 SDGs. Similarly, 58% of budgetary programs align with two or more SDGs. Notably, social SDGs are prominent in terms of the number of policies and programs aligned. It is important to emphasize the role of the Recovery, Transformation, and Resilience Plan in aligning budgets with transformational goals, such as digital transformation.
Citations:
Spanish government. 2022. “Alignment Report.” https://www.sepg.pap.hacienda.gob.es/sitios/sepg/en-GB/Presupuestos/InformesImpacto/IA2023/Paginas/IAPGE2023.aspx
The amendment to section 135 of the Spanish constitution aims to enforce the principle of budgetary stability, binding all public administrations, and to achieve economic and social sustainability. Loans intended for servicing the interest and capital of the state’s public debt will always be considered part of budgetary expenditures, and their repayment shall be accorded absolute priority. These allocations cannot be altered or amended as long as they adhere to the terms of the issuance.
Article 135 does not refer to controls and sanctions on sub-central authorities in case of noncompliance with debt limits. However, Organic Law 2/2012 of 27 April on Budgetary Stability and Financial Sustainability specifies the corrective and repressive measures the Ministry of Finance and Public Administrations can take in case of noncompliance. According to Article 32, if the budget settlement results in a surplus, this surplus shall be used to reduce the level of net indebtedness. In the case of the social security system, the surplus shall be applied as a priority to the Reserve Fund to meet the system’s future needs.
In general terms, the budgetary process is very transparent. The government delivers its budgetary plan to the European Commission to show how the budget includes the economic policy recommendations presented by the Commission, as well as the long-term planning commitments of the government within the RRP.
The SDGs are mentioned in the 2023 budget law. Virtually all budgetary policies are in harmony with at least two Sustainable Development Goals (SDGs), with most policies aligning with between 4 and 7 SDGs. Similarly, 58% of budgetary programs align with two or more SDGs. Notably, social SDGs are prominent in terms of the number of policies and programs aligned. It is important to emphasize the role of the Recovery, Transformation, and Resilience Plan in aligning budgets with transformational goals, such as digital transformation.
Citations:
Spanish government. 2022. “Alignment Report.” https://www.sepg.pap.hacienda.gob.es/sitios/sepg/en-GB/Presupuestos/InformesImpacto/IA2023/Paginas/IAPGE2023.aspx
Graph View
How committed is the government to utilizing research and innovation as drivers for the transition to a sustainable economy and society?
10
9
9
The government is clearly committed to utilizing research and innovation as drivers for the transition to a sustainable economy and society.
8
7
6
7
6
The government is largely committed to utilizing research and innovation as drivers for the transition toward a sustainable economy and society.
5
4
3
4
3
The government is somewhat committed to utilizing research and innovation as drivers for the transition toward a sustainable economy and society.
2
1
1
The government is not at all committed to utilizing research and innovation as drivers for the transition toward a sustainable economy and society.
In 2020, the government approved the Science, Technology and Innovation Strategy (EECTI) for 2021 – 2027 in accordance with the Sustainable Development Goals, aiming to double public and private investment in R&I to 2.12% of GDP by 2027. The strategy was developed in collaboration with regional governments, economic and social stakeholders, universities, research organizations, and scientific bodies.
The strategy follows the strategic lines of the Horizon Europe themes, and several lines of action are established. For example, Action Line 1: Budget focuses on increasing the budget dedicated to R&I during 2021 – 2027 and encouraging private investment until it reaches the EU average.
In September 2022, Law 17/2022 amending Law 14/2011 on Science, Technology, and Innovation was adopted to align with the achievement of the Sustainable Development Goals.
Research and technology policy has traditionally been a weak point for Spain, as evidenced by the low number of patents registered. Bureaucratic hurdles are only one obstacle. Nevertheless, according to the European Commission’s 2023 Innovation Scoreboard, Spain’s innovation performance has notably improved relative to 2010, with human resources being the strongest-performing innovation dimension. Moreover, Spain performs above the EU average regarding innovation-friendly environments and employment impacts, and the performance gap with the EU is becoming smaller. In 2023, strong increases were marked in the sales of innovative products. However, there have been significant decreases in environment-related technologies since 2016 (European Innovation Scoreboard 2023).
The government participated in the 2023 launch of the European Tech Champions Initiative (ETCI) to support early-stage technology startups by facilitating financing with European capital. The ETCI initiative complements efforts by the Ministry of Economy and Digital Transformation through the Instituto de Crédito Oficial (ICO), particularly the venture capital company Axis.
The Ministry of Science and Innovation is the lead unit for coordinating and promoting the Technology and Innovation Strategy. El Consejo de Política Científica, Tecnológica y de Innovación (Council for Scientific, Technological, and Innovation Policy) acts as the coordination body for scientific and technical research at the state (interministerial) and autonomous community levels. The Centro para el Desarrollo Tecnológico Industrial (CDTI) operates as a public business entity within the Ministry of Science and Innovation, focusing on fostering innovation and technological development. It serves as the conduit for all applications seeking financial assistance and support for R&D&I projects undertaken by Spanish companies, both nationally and internationally.
Law 17/2022 aims to enhance the capabilities of the Science, Technology, and Innovation System, with the goal of improving coordination, governance, and knowledge transfer. This legislation strengthens co-governance mechanisms between various administrations by outlining a Map of Unique Scientific and Technical Infrastructures. In this map, ownership is shared between the government and other relevant administrations, promoting collaborative efforts in advancing scientific and technological initiatives.
The National Open Science Strategy for 2023 – 2027, endorsed in 2023, includes all commitments related to open science made by various public entities within the system. It thoroughly examines the international and national landscape concerning open science.
Both the State Plan for Scientific and Technical Research and Innovation and the Strategy for Science, Technology, and Innovation undergo external and independent evaluation processes. The monitoring and evaluation are conducted in two phases: an interim evaluation and a final evaluation one and a half years after completion. For this, a Monitoring Committee has been created. This committee consists of representatives from ministerial departments and their funding agents, autonomous communities, agents from both the public and private sectors, and civil society. So far, one report has been published.
Citations:
Govermetn of Spain. 2021. “Report on the Analysis of Bottlenecks to the Diffusion of Innovation and Digitisation in Spain.” https://www.ciencia.gob.es/InfoGeneralPortal/documento/173f0ae4-d3d0-4a04-8bba-b1a095899378
Government of Spain. 2021. “Science, Technology and Innovation Strategy 2021-2027.” https://www.ciencia.gob.es/en/Estrategias-y-Planes/Estrategias/Estrategia-Espanola-de-Ciencia-Tecnologia-e-Innovacion-2021-2027.html
Law 17/2022 of 5 September
European Innovation Scoreboard. 2023. “https://ec.europa.eu/assets/rtd/eis/2023/ec_rtd_eis-country-profile-es.pdf”
The strategy follows the strategic lines of the Horizon Europe themes, and several lines of action are established. For example, Action Line 1: Budget focuses on increasing the budget dedicated to R&I during 2021 – 2027 and encouraging private investment until it reaches the EU average.
In September 2022, Law 17/2022 amending Law 14/2011 on Science, Technology, and Innovation was adopted to align with the achievement of the Sustainable Development Goals.
Research and technology policy has traditionally been a weak point for Spain, as evidenced by the low number of patents registered. Bureaucratic hurdles are only one obstacle. Nevertheless, according to the European Commission’s 2023 Innovation Scoreboard, Spain’s innovation performance has notably improved relative to 2010, with human resources being the strongest-performing innovation dimension. Moreover, Spain performs above the EU average regarding innovation-friendly environments and employment impacts, and the performance gap with the EU is becoming smaller. In 2023, strong increases were marked in the sales of innovative products. However, there have been significant decreases in environment-related technologies since 2016 (European Innovation Scoreboard 2023).
The government participated in the 2023 launch of the European Tech Champions Initiative (ETCI) to support early-stage technology startups by facilitating financing with European capital. The ETCI initiative complements efforts by the Ministry of Economy and Digital Transformation through the Instituto de Crédito Oficial (ICO), particularly the venture capital company Axis.
The Ministry of Science and Innovation is the lead unit for coordinating and promoting the Technology and Innovation Strategy. El Consejo de Política Científica, Tecnológica y de Innovación (Council for Scientific, Technological, and Innovation Policy) acts as the coordination body for scientific and technical research at the state (interministerial) and autonomous community levels. The Centro para el Desarrollo Tecnológico Industrial (CDTI) operates as a public business entity within the Ministry of Science and Innovation, focusing on fostering innovation and technological development. It serves as the conduit for all applications seeking financial assistance and support for R&D&I projects undertaken by Spanish companies, both nationally and internationally.
Law 17/2022 aims to enhance the capabilities of the Science, Technology, and Innovation System, with the goal of improving coordination, governance, and knowledge transfer. This legislation strengthens co-governance mechanisms between various administrations by outlining a Map of Unique Scientific and Technical Infrastructures. In this map, ownership is shared between the government and other relevant administrations, promoting collaborative efforts in advancing scientific and technological initiatives.
The National Open Science Strategy for 2023 – 2027, endorsed in 2023, includes all commitments related to open science made by various public entities within the system. It thoroughly examines the international and national landscape concerning open science.
Both the State Plan for Scientific and Technical Research and Innovation and the Strategy for Science, Technology, and Innovation undergo external and independent evaluation processes. The monitoring and evaluation are conducted in two phases: an interim evaluation and a final evaluation one and a half years after completion. For this, a Monitoring Committee has been created. This committee consists of representatives from ministerial departments and their funding agents, autonomous communities, agents from both the public and private sectors, and civil society. So far, one report has been published.
Citations:
Govermetn of Spain. 2021. “Report on the Analysis of Bottlenecks to the Diffusion of Innovation and Digitisation in Spain.” https://www.ciencia.gob.es/InfoGeneralPortal/documento/173f0ae4-d3d0-4a04-8bba-b1a095899378
Government of Spain. 2021. “Science, Technology and Innovation Strategy 2021-2027.” https://www.ciencia.gob.es/en/Estrategias-y-Planes/Estrategias/Estrategia-Espanola-de-Ciencia-Tecnologia-e-Innovacion-2021-2027.html
Law 17/2022 of 5 September
European Innovation Scoreboard. 2023. “https://ec.europa.eu/assets/rtd/eis/2023/ec_rtd_eis-country-profile-es.pdf”
Graph View
How committed and credible is the government in its activities to guide the effective regulation and supervision of the international financial architecture?
10
9
9
The government is clearly committed to ensuring the stability of the global financial system.
8
7
6
7
6
The government is largely committed to ensuring the stability of the global financial system.
5
4
3
4
3
The government is somewhat committed to ensuring the stability of the global financial system.
2
1
1
The government is not at all committed to ensuring the stability of the global financial system.
Within the EU framework, the Spanish government has implemented several international agreements in recent years to prevent and combat high-risk financial activities that pose systemic risks. However, crypto-asset activities in Spain are not currently regulated. The Banco de España monitors developments in this market as part of its financial stability responsibilities.
During the review period, the Banco de España called for European regulation to provide legal certainty in crypto-asset operations and supervision. During Spain’s presidency of the Council of the European Union, the Ministry of Economy and Digital Transformation announced the European Union’s Markets in Crypto-Assets (MiCA) Act. The Spanish government expressed its intention to fast-track the adoption of MiCA, with the crypto regulatory framework set to be enacted in Spain by December 2025. The EU’s deadline for implementing MiCA across all 27 member states is July 2026.
Spain is a permanent invited guest to G-20 meetings and sits on the Financial Stability Board (FSB). Members of the FSB commit to maintaining financial stability, ensuring the openness and transparency of the financial sector, implementing international financial standards, and undergoing periodic peer reviews.
At the EU level, Spain has vigorously advocated for a banking union and for the European Central Bank to take a more active role in strengthening the single European currency. During the Spanish presidency of the Council of the European Union, the government succeeded in reforming fiscal rules, enabling member states to maintain sound public accounts while adequately financing public services.
Spain has been actively involved within the OECD in the fight against tax havens. As a member of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, Spain signed the statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy in July 2023. In February 2023, the Spanish Ministry of Finance approved a new list of non-cooperative territories. In November 2023, the Spanish government formally submitted Madrid’s candidacy to host the new European anti-money laundering authority. Spain has a system for combating money laundering and the financing of international terrorism.
According to the Tax Justice Network, Spain was ranked 22nd in the corporate tax haven index in 2021 and 29th in contributing to financial secrecy worldwide.
Citations:
Tax Justice Network. 2022. “Country Profiles: Spain.” https://taxjustice.net/country-profiles/spain/
During the review period, the Banco de España called for European regulation to provide legal certainty in crypto-asset operations and supervision. During Spain’s presidency of the Council of the European Union, the Ministry of Economy and Digital Transformation announced the European Union’s Markets in Crypto-Assets (MiCA) Act. The Spanish government expressed its intention to fast-track the adoption of MiCA, with the crypto regulatory framework set to be enacted in Spain by December 2025. The EU’s deadline for implementing MiCA across all 27 member states is July 2026.
Spain is a permanent invited guest to G-20 meetings and sits on the Financial Stability Board (FSB). Members of the FSB commit to maintaining financial stability, ensuring the openness and transparency of the financial sector, implementing international financial standards, and undergoing periodic peer reviews.
At the EU level, Spain has vigorously advocated for a banking union and for the European Central Bank to take a more active role in strengthening the single European currency. During the Spanish presidency of the Council of the European Union, the government succeeded in reforming fiscal rules, enabling member states to maintain sound public accounts while adequately financing public services.
Spain has been actively involved within the OECD in the fight against tax havens. As a member of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, Spain signed the statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy in July 2023. In February 2023, the Spanish Ministry of Finance approved a new list of non-cooperative territories. In November 2023, the Spanish government formally submitted Madrid’s candidacy to host the new European anti-money laundering authority. Spain has a system for combating money laundering and the financing of international terrorism.
According to the Tax Justice Network, Spain was ranked 22nd in the corporate tax haven index in 2021 and 29th in contributing to financial secrecy worldwide.
Citations:
Tax Justice Network. 2022. “Country Profiles: Spain.” https://taxjustice.net/country-profiles/spain/