June 14th, 2024 | 4:56


Basque cooperatives ask for tax discounts

Jeickson Sulbaran

May 23, 2024 | 12:30 p.m.

Konfekoop holds its General Assembly and highlights the need for a fiscal framework that supports the development of the social economy

La General Assembly of Konfekoop, the Confederation of Cooperatives of Euskadi, approved the 2023 accounts and the budget for this year. This exercise is expected to have a economic recovery in the second half, after a complicated start due to inflation and the crisis in key markets such as Germany and France.

The president of Konfekoop, Rosa Lavín, highlighted the importance of taxation that does not hinder the development of the social economy. He expressed confidence that the Confederation will take shape in the coming months on the Lanbide board of directors, a commitment of the Basque Employment Law approved last year.

In Bilbao, more than a hundred representatives of cooperative companies met, together with a broad institutional representation led by the acting Lehendakari, Iñigo Urkullu, the mayor of Bilbao, Juan Mari Aburto, and the Deputy Minister of Labor and Social Security, Elena Pérez, among others.

Lavín stressed that «Euskadi is a small country in an interdependent global village». He emphasized the need to maintain a cooperative fiscal regime that favors the stability, strengthening and productivity of the Basque social economy. He highlighted the importance of providing companies with the financing and tax instruments necessary to compete in quality of services and products.

Basque cooperatives ask for tax discounts

A cooperative fiscal framework that favors stability, strengthening and productivity

Lavín requested steps to articulate the presence of cooperative companies on the board of directors of Lanbide. He stated that there is consensus on the need to incorporate cooperative companies in Lanbide and hoped that this agreement will be reached in the coming months. thus fulfilling one of Konfekoop's commitments to the cooperative fabric.

La president of Konfekoop She was satisfied with the return of industrial policy as the backbone of wealth and social cohesion. He highlighted that Konfekoop is working with the councils of Álava and Gipuzkoa to create, together with the SPRI, a venture capital fund similar to the one existing in Bizkaia. This fund aims to respond to the financing of cooperative companies in Gipuzkoa and Álava, reinforcing their initial phases. Undertaking investments and deploying projects that help its maturation and consolidation, thus strengthening its stability and competitiveness.

Lavín concluded his speech by thanking the acting Lehendakari, Iñigo Urkullu, for his commitment and support to cooperativism during his 12 years in office. He also thanked the former second vice president, Idoia Mendia, for her work in the Department of Labor and Employment during the last legislature. With the promotion of the Basque Employment Law, aid to the cooperative fabric during the pandemic and the war in Ukraine, and the signing of the third edition of the Agreement of Intent in 2023.

Konfekoop works with the councils of Álava and Gipuzkoa to create a risk capital fund that strengthens cooperative companies. The report presented to the Assembly and endorsed by the members reflects stability in the number of member cooperatives, with almost 1.400, a total of 61.199 jobs and 1.527.482 memberss. Konfekoop's total assets reach a value of 22,1 million euros, with 16,6 million in net worth. The 120.987 euros of profit in 2023 will be allocated, 95%, to the Irrepartable Reserve Fund. While the rest will go to the Mundukide Foundation.

More news