Congress voted on the Startup Act with more than 70 amendments

Congress is voting Thursday on a bill to strengthen the startup ecosystem, known as ‘startup law‘, after more than 70 amendments to the rule were approved, although none of them affected the tax incentive system provided by the government.

The initiative reaches the Committee on Economic Affairs and Digital Transformation, but since it is brought to the plenary session of Congress, it must undergo another round of votes in the chamber to approve it and send it to the Senate.

Changes agreed with the rest of the Parliamentary forces led to the incorporation of cooperatives into the nascent business system, allowing a positive management silence in Enisa (National Innovation Corporation, SA) recognition of a “startup” or deepening Criteria when evaluating Degree of innovation and scalability of the business.

Other changes recognize the ability of the IRS to verify whether the necessary requirements have been met and remain in effect for the benefit of tax incentives It raises the penalty limit stipulated to reverse these profits when one of the partners is convicted, which will only apply if the convicted party has at least 5% of the capital.

On the other hand, the benefits for highly qualified professionals are reached for people with vocational training studies and the requirements for companies to get these workers are abolished and the permit is extended for another year, up to two years. It is planned so that foreign students in higher education can find work or start a business once they have completed their studies.

End of exemption from registration and documentation fees

However, none of the changes changed the system of tax benefits envisaged in the project approved by the Cabinet, with more favorable taxes for both companies and workers.

Far from expanding these incentives, the groups agreed to end Exemption from notary fees Or the registration provided to entrepreneurs who benefit from the start-up system and complete their processing electronically.

According to the introduced change, which Europa Press has access to, documentation and registration fees will cost these companies 60 and 40 euros, respectively, as long as the company’s capital does not reach 3,100 euros. The change originates from the PDeCAT modification, as suggested by Vox.

Financial transparency and algorithmic oversight

On the other hand, the rule also helped the government promote two legal changes unrelated to the new startup regulations, such as the transfer of the tax transparency directive to multinational companies and the creation of Spanish Artificial Intelligence Supervision Agency (Amnesty International).

In the first case, any dominant company in a group whose annual income exceeds 750 million euros is obligated to detail Separate information for each state The member you trade on will depend on your income, the amount of pre-tax profit or loss, or the amount of tax paid.

With regard to the new agency, its objectives include overseeing the start-up, use or commercialization of systems that include artificial intelligence, especially those that may pose significant risks to health, safety and fundamental rights, and its inspector and sanctioning capabilities.

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