The Official State Gazette publishes its text this Wednesday. new lawmaker taxes about extraordinary energy sector, banking and properties over three million euros. The new tax figures will come into effect on January 1, two years in principle (for 2023 and 2024) after they are published in the BOE. With these taxes tax offices expects to earn additional income After the parliamentary process, it was reduced to around 4,000 million (1,000 less than originally planned) in each of the two years it will be in effect.
Possible period after publication in BOE submission of objections against the application of these taxes, something that has already been announced by the different groups affected during the processing of the invoice. AEB bank employers are considering appealing the new fiscal tax. The employers’ association Foment or Community of Madrid envisages bring before constitutional new wealth tax, for which the three-month period is opened. The energy sector is also expected to file a lawsuit against the new tax.
bank tax
this tribute income tax will be 4.8% For commissions and net interest received by the largest lenders and financial lenders whose revenue from both concepts will exceed 800 million in 2019. The tax will tax income derived in Spain and will also affect foreign entities that have business in the country and will be applied to income earned one year before the birth of the obligation to pay (in 2023, income in 2022 will be taxed in 2024, and income in 2023 will be taxed in 2023. ).
The law determines that the amount of tax “will not be subject to direct or indirect economic repercussions”. to customers under the threat of a 150% fine in case of non-compliance. It has also been determined that the Government will evaluate the permanent protection of this tax, which will be in effect only in 2023 and 2024 in principle, in the last quarter of 2024.
This tax is due in the first 20 days of September after 50% down payment in February. The Treasury expects to enter 1,500 million from this tax in each of its two years into effect.
energy tax
establishes a 1.2% tax on the sale of companies with a turnover of more than 1,000 million euros in the electricity, gas and oil sectors and generally those who earn at least 75% of their income from mining activities. The tax will tax the activities of foreign companies in the national territory, not the activities of Spanish multinational companies abroad. During the assembly process, revenues generated by companies from regulated electricity and gas tariffs and from all regulated activities in general were excluded from the tax base. In principle, the Treasury had planned to collect 2 billion euros for this tax every two years when it would come into effect. Estimates by the Bank of Spain cut the collection capacity of this tax in half after excluding regulated activities. In the same way as the tax on credit institutions and financial institutions, this tax is also payable within the first 20 days of SeptemberAfter applying payment to 50% account in February.
As with the tax on banks, the law states that the amount of tax levied on energy companies “will not be subject to direct or indirect economic effects” on customers. Threatened with a 150% fine for non-compliance. Also in this case, it has been determined that the Government will permanently evaluate the possible maintenance of this tax in the last quarter of 2024.
wealth tax
The new tax, called the ‘temporary solidarity tax on large fortunes’, State tax that taxes the net assets of individuals from three million euros. The habitual residence is exempt up to 700.000 Euro. The tax scales with three types of tax: 1.7% (applicable to an asset tranche between 3 and 5.34 million), 2.1% (up to 10.69 million), and 3.5% (from 10.69 million).
From the fee incurred for this tax, each taxpayer can deduct what they have previously paid for wealth tax in their autonomous community. In this way, the new tax will result in higher taxation in Madrid and Andalusia (communities where the territorial wealth tax has been abolished) and eight other autonomous communities where for some parts there is a lower wealth tax than the rule state. Catalonia is an example for assets of 17.5 million or more. The Treasury estimates there are 23,000 taxpayers with assets of more than €3 million and calculates that the new tax could report an additional €1,500 million to the State Tax Administration (AEAT) for each of the two years to come. Force.