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Rogério Fernandes Ferreira proposes European tax on deposits, a fiscal "shot" to finance response to the crisis

22-04-2020, in Observador

A tax on financial assets levied for only one year in all countries and with a European dimension. The "corona shot tax," says tax specialist Rogério Fernandes Ferreira, is more solitary and better than debt.

More debt now will mean taxes in the future. The warning has been left by economists and politicians regarding the impact that massive measures to support the economy will leave, and which will have to be paid off in the coming years. It is a situation that penalizes indebted countries and economies more. This is the case with Portugal. If the reality of this crisis seems like a fiction, as the Portuguese Minister of Finance, Mário Centeno, stressed, it is necessary to think of bold solutions that have never been tried before.

Jurist and tax specialist Rogério Fernandes Ferreira, who was Secretary of State for Tax Affairs between 2001 and 2002, puts forward the idea of a corona shot tax, a new tax to be applied in the short term - and at once - that could give rise to tax credits in the future. A reconstruction tax which, he argues, should be European in the collection and management of revenue. It should be a reduced rate applied universally, especially to deposits and assets held by individuals, from a certain amount. A simple account makes it possible to estimate revenue of more than seven billion euros in Portugal, but the aim was to make richer countries contribute more according to the most valuable financial assets held by their residents.

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