With the first payment of 50% of the tax, the energy companies have already paid 817.4 million and the banks another 637.1 million, which anticipates income of close to 3,000 million for the whole year
The new taxes to tax the extraordinary profits of banks and energy companies have already raised 1,454 million euros. The companies in these sectors had until February 20 to pay the first advance of 50% of the tax -calculated on the results of 2022-, which will be paid in September.
Well then. After making the payments, the data from the Ministry of Finance indicate that the forecasts contemplated in the law, which pointed to an income for the public coffers of around 3,000 million euros per year, will be fulfilled.
Specifically, the energy companies have paid 817.4 million euros in this first payment, while the banks have paid 637.1 million. In other words, if the figures are repeated in the second, the annual collection of 2,900 million would be reached. “The results are very positive, with a degree of execution of at least 97%, and it is possible that we will exceed it,” said the Minister of Finance, María Jesús Montero.
The idea with which these two taxes were born, together with the great fortunes that some autonomous communities have appealed to the Supreme Court, is that they help finance protection measures in the face of the energy and price crisis.
The bank tax affects entities that bill more than 800 million, with 4.8% on their interest margin and net commissions generated with their activity in Spain. Meanwhile, energy companies are taxed at 1.2% on their turnover if they bill more than 1,000 million.
The minister made reference to the “unpublished” results of both sectors last year to justify the measure. “The figures show that it is not a confiscatory tax, but proportional to the benefits,” she said. Aware of the discomfort that the measure has generated in the two industries, she stressed that “both sectors have the support of the Government, but we only ask that, given historical benefits, these companies contribute to helping citizens.”
Bankinter has so far been the only financial entity to appeal before the National Court for the liquidation of the first payment of the tax, although the employers’ associations in the sector -the Spanish Banking Association (AEB) and the Spanish Confederation of Savings Banks (CECA)- already appealed to the National Court the ministerial order that regulates the tax.
Some organizations such as the IEE, the CEOE think tank, have been anticipating for weeks that the courts will agree with the banks for violating constitutional principles such as legal certainty and generality and equality, by excluding, among others, entities foreigners operating in Spain.
However, from the Government they are confident that the judicial revolt will remain only in an attempt by the sector, without finally having to return the proceeds. As for the energy companies, Repsol also filed an appeal to stop the payment of the tax. But the National Court rejected it.
Montero also reported that another of the measures to relieve families’ pockets, the 200-euro check for incomes of less than 27,000 euros, has already been requested by more than 1.1 million people.
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