Invest in The Basque Country

Basic guide to labour, commercial, accounting and tax regulations

Sayma SPRI
Fiscal and financial autonomy2019-05-14T17:42:32+02:00

FISCAL AND FINANCIAL AUTONOMY

The Basque Country has regulatory and management capacity thanks to its own financial system. The Basque Country enjoys a high level of self-government in such important matters as health, education, security, housing and finance, an autonomy emanating from the Statute of Gernika, one of the fundamental pillars of its self-government.

Another of the fundamental pillars of Basque self-government is the ‘Economic Agreement’, the financial support of the Autonomous Community that allows Basque institutions autonomy to collect and administer taxes from citizens based on their own budgets and the agreements signed with the Spanish central administration. All these circumstances have made it possible to create its own bodies, such as EITB – Basque Radio and Television; the Ertzaintza, the autonomous police force with more than 7,000 officers, and to have full competence in road and hydraulic infrastructures, economic and industrial development and regional planning and training.

Business development and the promotion of the creation of new companies and businesses are two of the most important commitments of Basque institutions. These commitments provide the tax incentives and deductions that Basque public administrations make available to people to create, develop and consolidate companies.