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Banks and energy companies comply and pay half of the two new taxes

Date: March 22, 2023 Time: 21:14:53

Banks and large energy companies have complied with the two new government taxes and have already paid a total of 1,454.5 million euros to the Treasury in the first tranche of payment for these sectors. This was announced this Tuesday by the Minister of Finance, María Jesús Montero, at the press conference after the Council of Ministers.

He has detailed that the energy tax collected a total of 817.4 million and the bank, 637.1 million. Thus, he has advanced that after this first payment, the annual collection will exceed 2,900 million euros in line with the provisions of the Executive. For the minister, this amount is “quite assumable” for some sectors that have reported millionaire benefits, so that, in her opinion, in no case can she “require confiscatory”, but rather “proportionate”.

The new extraordinary and temporary taxes for banking and energy, in force since the beginning of the year, tax the intermediation margin and income from non-regulated activities in Spain, respectively. Half of this amount is paid in the first twenty days of February as payment on account.

The forecast collection of these figures, after the necessary modifications in the parliamentary process, is 1,700 million per year for energy and 1,300 million per year for banks, figures that everything points to the fact that they will be reached according to the result.

More than 2.9 billion this year

Montero has assured that the financial and energy sectors “have the clear support of the Government”, but that he asks them “to make a small effort and contribute to help the citizens of their country in the face of historical benefits”, that “in their day” had to assume the rescue of the bank.

“Now it’s time to pitch in to protect the social majority”

“Now it’s time (…) to pitch in,” the minister insisted, without referring to the appeals filed by both the financial and energy sectors against the new figures. Montero has defended that these two taxes, together with the solidarity tax for large fortunes, intend to advance “fiscal justice” and the fight against inequality through the constitutional mandate to contribute according to ability.

These taxes, he added, make it possible to finance aid and policies “to protect the social majority”, such as the reduction in energy taxes, VAT for basic foods or the 200-euro check for vulnerable families. The taxes, he stressed, “are not the result of improvisation but are part of a coherent tax model” that seeks to advance tax justice, which is “the opposite of what conservative forces defend” when they advocate lowering taxes from generalized way.

Moncloa expects to exceed 2,900 million

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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