The Government extends the temporary tax on banks to foreign entities operating in Spain- NIUS
The tax on large fortunes will complement the wealth tax with the aim that those assets that exceed 3 million euros are not subject to transfer
The power to lien on shareholdings in non-resident entities with underlying real estate assets located in Spain is also enabled.
The Government has clarified that the funds raised through the tax on energy companies will be used for financial support measures
The PSOE and United We Can have proposed include a “temporary” tax on large fortunes in the law proposal of taxes on energy companies and financial entities, which will act as a complement to the wealth tax. In its list of joint amendments, the Executive determines that the provision of the lien to a banks the branches in Spain are also required of foreign credit institutions subject to the control of the European Central Bank (ECB).
As explained by the parliamentary groups in the list of amendments, to which Europa Press has had access, the tax on large fortunes will complement the heritage with the aim that those assets that exceed 3 million euros are not subject to transfer by the autonomous communities.
Despite those who demand that it be a permanent tax, the PSOE and Podemos amendments emphasize that their scope will be temporary, with a validity of two years, so that it is applicable in the first two years in which, from its entry into force, said tax is accrued. Yes indeed, a revision clause is introducedto carry out an evaluation of its results at the end of its validity and assess its maintenance or deletion.
On the other hand, the power of lien is also enabled on shareholdings in non-resident entities with underlying real estate assets located in Spain. In the opinion of PSOE and Podemos, this corrects “unjustified discrimination” with respect to the resident, since the non-resident evades the tax by filing a non-resident legal entity.
What is raised, to help the most vulnerable
In turn, the Government has clarified that the funds collected through the tax on energy companies will go to financial support measures to final energy customers, especially vulnerable householdsto mitigate the effects of high energy prices.
These resources will also be used for measures of financial support to contribute to the reduction of energy consumption, through auctions or demand reduction tendering systems, or other measures to help companies in energy-intensive sectors. They will also go to the energy autonomy and the financing of measures to reduce the harmful effects of the energy crisis.
