Minimum twelve European countries They are already making some kind of application special banking tax. It’s collected like this European Banking Authority (better known as EBA) was included in a risk assessment report on the continent’s financial system last Tuesday. This document contains a significant sample of States where some form of special taxation is in force for their banks. Besides Spain on the list Sweden, Denmark, Netherlands, Belgium, Italy, Hungary, Austria, Romania, Czech Republic, Poland and Lithuania. It also does not cover countries such as: IrelandHe announced that next year he will increase taxes on organizations that received public aid during the previous financial crisis.
Report of the Spanish-chaired community organizer José Manuel Campa emphasizes that: To collect Due to bank taxes in Europe increased by 30% Between June 2022 and 2023. On the one hand, it is due to the positive impact of corporate tax collection. profit increase Institutions caused by the rise in interest rates (explaining 91% of the increase). On the other hand, it responds to your existence. other taxes and duties“including taxes extraordinary profits“It is determined by the huge profits made by the sector.”
In this sense, just like the European Central Bank (ECB), EBA, warned Countries that increase the level of taxes borne by banks affects your profitability. “All these measures need to be evaluated appropriately.” cost-benefit perspective. In particular, when implementing these new measures, it should be taken into account whether some features of taxes amount to a tax. more uncertainty “For the banking sector,” he warned.
HE spanish tax – essentially a ‘public property benefit of a non-tax nature’ – to try to overcome legal hurdles 4.8% interest and commission In Spain, it was received from banks with income from these two items equal to or more than 800 million euros in 2019. In principle it would be implemented temporary based on the results of 2022 and 2023 (and will be paid in February and September 2023 and 2024, respectively), but PSOE and Add included in government agreements “readapt and sustain” for the banking sector – together with energy companies – to continue to “contribute” tax justice and to the maintenance of the welfare state”.
Calvino-Díaz conflict
Absolutely, the vice president for economics, Nadia Calvinoin an interview about ‘Antena 3’ this Friday review time and see if it’s there to arrange Some parameters in the new scenario we are currently in There is no such rapid increase in interest rates “Therefore, Euribor, the market interest rate that most affects banking revenues, is falling because the market is anticipating a decline in the European Central Bank (ECB) reference interest rates.
“We need to see if these two taxes are necessary make some adjustments or not. We always said that we would analyze these two taxes. if you need to keep them looking to the future, With what parameters? So, given that the conditions have changed, they will continue to have the same positive impact in terms of collections and economically,” Calviño assured.
Second vice president Yolanda Díaz responded to him in Bilbao. Although Calviño did not speak clearly about eliminating him, Sumar’s leader expressed his rejection of his words. “I’m in total dispute and I would tell Miss Calviño ‘pacta sunt servanda’ (what is agreed upon is binding) and we have just signed an agreement. Presidency for Mr Sánchezclearly, precisely in moments of crisis unprecedented inflationThose who have the most, they need to contribute more. For energy companies and financial institutions, pre-tax profit data is certainly interesting. That’s why they need to contribute more than ever. I insist, this is an agreement between PSOE and Sumar. must be fulfilled and respected“he stated.
What are the special taxes imposed on banks in 12 European countries?
Sweden: For banks with assets of more than 15 billion euros, special tax ranging from 5 to 6 basis points on their liabilities
Denmark: Up to 26% increase in corporate tax rate for banks
Holland: 30% increase in special tax on banks and new tax on share buybacks for all publicly traded companies
Belgium: Increasing the Deposit Guarantee Fund contribution and removing the tax deduction
Spain: 4.8% tax on interest margin and commissions
Italy: 40% tax on the interest margin difference between 2021 and 2023; It can then be replaced by a capital increase of two and a half times the amount payable to the State, provided that it is not used to pay dividends.
Hungary: tax at the rate of 0.21% of total assets, excluding interbank loans and the new turnover tax (10% in 2022 and 8% in 2023)
Austria: 0.029% tax on net worth and guaranteed deposits
Romania: Additional tax of 1% on turnover
Czech Republic: 60% tax surcharge on excess profits
Poland: 0.44% of assets, non-performing assets, equities and Treasury bonds
Lithuania: 60% tax on interest margin 50% higher than the average of the last four years