Op-ed: Tax incentives in Spain's alternatives market

The Spanish government is considering offering tax deductions for companies that try to raise funds through Spain's Alternative Stock Market (MAB following the Spanish abbreviation) and investors that seek Subsequent Offerings.

The Ministry of Industry and Ministry of Economy have pushed for the project, but the Minister of Finance is trying to figure out how to execute it without a net negative effect on tax revenues.

The issue harks back to Prime Minister Rajoy's promise to improve tax deductions for reinvested profits, which he made during his electoral campaign.

It is important to explore all the ways to make it easier for companies to get financing, although there will not be a definite solution to the problem until financial institutions start to issue loans again. And doing that will require speeding up financial reforms.