The State Budget Law For 2022

The State Budget Law for 2022, Law 12/2022 of 27 June ("SBL2022") was published on 27 June 2022 and came into force on the following day. SBL2022 is framed in a context of expectations for the economic recovery of the country in what is hoped will be a post-pandemic period.

It has been presented as a budget that promotes economic recovery and reinforces policies favourable to investment. However, the greatest changes that have been proposed relate to the taxation of individuals. The proposals for companies are modest, particularly in terms of relief from the tax burden they currently have to bear in their operations. We are therefore seeing a clear choice by the Government to introduce a Budget that is more geared towards families than to businesses.