Senate approves taxes on banks, energy and wealth


Madrid (EFE).- The Economic Affairs Committee of the Senate has approved without including any amendments the draft law that creates temporary taxes on banks, energy companies and large fortunes, after having rejected in a first vote the two vetoes raised by Ciudadanos and pp.

The standard now goes to the full Senate session, which next week will presumably give it final approval without introducing changes, so it won’t have to go back to Congress.

The intention of the Socialist parliamentary group not to make any more changes to this proposal facilitated the debate in committee, in which practically all the groups refused to intervene, given the 72 amendments tabled which were retained.

PP considers the bill “a fraud”

The PP intervened, stressing that the bill is a “swindle” because, not being a bill, it evades the opinion of the Council of State and also creates a new tax that aims to “confront the poor and the rich”. “

From the PSOE, they responded that by vetoing the law, they oppose the idea widely shared in the European Union (EU) of the need to distribute wealth “in an extraordinary situation which requires measures extraordinary”.

Finance Minister María Jesús Montero in a file image. EFE/Javier Lixon

In addition, the Senate groups registered 72 partial amendments to the bill, including from Ciudadanos (23) and Más Madrid (10), but also from ERC (8), Vox (8), PP (5), PNV (4) , JxCAT (4), Bildu (3), Canary Islands Coalition (2), Més per Mallorca (2), Agrupación Socialista Gomera (2) and Teruel Existe (1).

The amendments of the PP aim to make the energy tax equal to the European tax on the windfall profits of oil companies and to abolish both the tax on large fortunes and the tax on banks and, in exchange, to improve the code of best practice for banks to protect vulnerable mortgage debtors.

As in its general veto, the 23 Citizens amendments propose to abolish the tax on large fortunes and to adapt banking and energy taxes to European parameters, as well as to introduce various exemptions, for example, depending on the size of the company.

The ERC amendments propose to return 50% of the resources from the three taxes to the autonomous communities, to tax speculative products such as derivatives with the tax on financial transactions or to increase the rates of gambling winnings.

The PNV, for its part, presents four amendments to the energy tax to tax windfall profits instead of income, establish a deduction for investments related to the energy transition and exclude from tax the income of group companies whose main activity is not energy.

government taxes
Euro coins, in a file image. EFE/Oliver Berg

Bildu’s amendments propose that income from outside Spain also be taxed in the bank tax and accept the consultation of the tax on large fortunes with the Basque Country and Navarre.

Vox proposes that taxes on banks and energy companies tax exclusively their extraordinary benefits and give them a finalist character -whether the income is used to reduce the energy bill or housing assistance-, as well as recover the deduction for investment in habitual residence.

The amendments of the Coalition of the Canary Islands and the Socialist Association of Gomera seek to exclude from the energy tax income from the distribution and sale of fuel on the non-capital islands, Ceuta and Melilla.

JxCAT intends to allocate resources from taxes to autonomous communities, as well as exclude operators without oil refining capacity from the energy tax and limit the amount to be paid to a maximum of 20% of the company’s profit.

Más Madrid ha registrado enmiendas para que los tres impuestos sean permanentes y para que la mitad de su recaudación is intended for the autónomas comunidades, una propuesta que también comparte Més per Mallorca, mientras que Teruel Existe pide excluir del impuesto bancario las comisiones de entidades sin promotes profit.


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