Withdraws the veto to process the amendments of various groups in Congress, inclined to adapt it to EU demands, as claimed by the affected companies
The imminent tax on energy companies and banks still has the option of starting its journey on January 1 with a different scheme from the one initially proposed by the Government in its idea of taxing the extraordinary income that companies in both sectors are billing. The Executive is willing to include in the debate on the processing of the bill the amendments of various parliamentary groups, among which are some that advocate converting the tax to equate it to the recommendations of the European Commission. That is to say, that electric companies, gas companies and banks pay taxes on their profits and not on the amount of sales they obtain.
Everything will depend on the negotiation of the text, although for now the Government decided yesterday to withdraw the vetoes that it had communicated barely 24 hours before to the 70 partial amendments presented by the different parliamentary groups.
Among the initiatives that will finally be discussed will include the proposals of the PP to tax the extra profits of energy companies with activity focused on oil, gas and coal with 33%, compared to the Treasury proposal to tax income, as well as the suppression of the bank tax.
The parliamentary group of the PNV also coincides with the popular ones and the European Commission itself in its intention to tax the benefits and not the billing. Basque nationalists maintain that the turnover in itself “is not indicative of the benefits obtained.” The PNV also wants to clarify that “the interest and commissions that are intended to be taxed are those obtained in Spain both by entities resident in Spanish territory, and by non-resident entities that operate in Spain, for example, through branches, excluding interest and commissions obtained in other jurisdictions”. In addition, it urges the participation of the Basque Country and Navarra in the tax, within the future negotiation of the Mixed Commission of the Economic Agreement.
For its part, the PDeCat also stresses the need to tax profits and not income. In addition, in the case of the tribute directed at financial institutions, the Catalan nationalist party has included proposals similar to those that the entire financial sector has been raising in recent weeks. For example, that the tax be applied to all banks, regardless of their size, without limiting a minimum turnover from which it can be applied, in order not to affect the competitiveness of the sector.
Another PDeCat amendment advocates removing the prohibition for entities to transfer the tax to their customers. The party considers that this imposition “violates the freedom of business” and “is contrary” to the guide of the European Banking Authority (EBA, for its acronym in English) on the origin and monitoring of loans.
The processing of the tax is expected to end before December 31, to implement the tax in 2023.
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