The OECD presented its report this Thursday Analysis of the capital market of Spain 2024: Capital markets focused on a dynamic and sustainable national economy and business sector, in an event held at the headquarters of the National Securities Market Commission (CNMV) in Madrid. The Organization proposes 32 recommendations, among which highlights creation of an individual investment savings account specific that offers greater flexibility to savers to decide the allocation of assets and benefit from simplified taxation of capital income.
Four other recommendations are specifically highlighted by the OECD: secondly, the body proposes increasing the size of the pension fund sector and encouraging pension savings, “creating a policy environment that allows and encourages such funds to participate in the capital markets”; In relation to this, he proposes eliminate the possibility of participants making early withdrawals from pension funds, “to ensure that these funds can invest for the long term.”
He also advises introduce a tax relief for companies’ own funds (similar to that provided for in the EU DEBRA proposal) to eliminate unfavorable tax treatment with respect to debt; and, likewise, encourage public-private cooperation to promote the use of markets in financing SMEs “in order to create an ecosystem with diverse sources of financing.”
Paula Conthe, Secretary General of the Treasury and International Financing of the Government of Spain, has indicated that “the development of Spanish capital markets is a priority fully aligned with the Capital Market Union.” Conthe has shown his willingness to develop some of these recommendations “together with other interested Member States on the path towards a real common savings and investment union.”
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