Spain Looks Set to Lure Blockchain Companies Using Desirable Taxation Rules

miracleman (49)in #blockchain • 7 years ago

Its taken some time for Governments from around the World to tackle the subject of Blockchain and Cryptocurrency, however over the past 12 months with such an exponential increase in interest surrounding Blockchain and Cryptocurrency Countries are now starting to accept it’s not going away. There are some Countries who have decided on a harsher approach, but there are also Countries who are taking the more sensible approach and embracing it, after all it’s not going away so it is better to accept the benefit it has to offer then outright reject it.

Spain’s Prime Minister Mariano Rajoy is in the process of writing new legislation which will possibly include some attractive Tax breaks for Companies using Blockchain in an attempt to lure new business and thus new wealth into the Spanish economy:

“It’s in Spain’s interest to attract those firms because the technology is a driver for business in industries such as finance, health and education”

“The level of the digitalization for companies will be key,” Garcia Egea said in an interview in his office in the parliament. > “We hope to get the legislation ready this year.” – Bloomberg

Spain has suffered an economic downturn over the past few years though the past year has brought their economy back to ‘pre-crisis’ levels. However only today concerns have been raised over more potential Economic difficulties in the Country due to the ongoing problems in Catalonia. According to Goldman Sachs “the political events related to Catalonia continue to be an important risk” . It would seem the timing of this is no coincidence as Prime Minister Mariano Rajoy makes plans to boost Spain’s Economy. What better way than to attract Blockchain businesses.