July 27, 2021

Montero says that banks will pay the mortgage tax from this Saturday

Montero says that banks will pay the mortgage tax from this Saturday


The Government today approved a royal decree so that from this Saturday – really on Monday as the first working day – the banks will take charge of the Tax on Documented Legal Acts, the tribute to the mortgages that the Supreme Court has questioned, after that in the last 23 years, communities and the State have diverted it to the client and not to the entity. As Minister of Finance María Jesús Montero announced at a press conference after the Council of Ministers, the new regulation will be published tomorrow in the BOE and It will come into force one day later, on Saturday.

In this way, those customers who sign the deed from this Saturday will see how the tax is paid by the entity. Thus, if the bank has already granted the mortgage to the consumer but it has not yet signed, the entity must pay the tax if the client signs it from Saturday.

The legal modification is articulated through the inclusion of a paragraph in article 29 of the Law of AJD and ITP that "establishes that when it is a matter of mortgage security deeds, the lender will be considered a taxpayer," Montero said. Likewise, article 15 of the Corporate Tax Law is modified so that this expense not be deductible by the lender, the bank in this case.

The minister has clarified that she will meet with the autonomous communities next week when summoning her directors of tributes to discuss how the regional bonuses are left to physical persons of the tax, that being the bank the payer, will decline. When she was reminded that Andalusia had the highest tax rate with her as Finance Minister, she pointed out that "the communities with the worst financing per capita make greater use of tax figures compared to others that are better financed".

Office of customer protection

Along with this, the Ministry of Economy is working on approving the creation of a client defense office to avoid the repercussion of the consumer tax through "abusive clauses". The minister has not clarified if she will monitor that they do not include it in other concepts such as commissions for other services or the interest charged to the mortgaged, nor If your decisions will be binding, that is, if they will force banks to recover in case of infringement. For this, he has referred to ask the minister Nadia Calviño next week.

Yes, Montoro has refused to eliminate the tax as requested by the leader of the PP, Pablo Casado. The minister recalled that this would mean subtract 2 billion to the autonomous communities and he has urged "explain How Health, Education and Dependency would be financed»With this loss of revenue in the accounts of the regions.

Forecasts of the European Commission

On the deficit forecasts of the European Commission, which points out that the structural adjustment of Spain will be less than the one presumed by the Government and worsens its forecast to 2.1% of the GDP of the hole next year – while the Treasury predicted a 1, 8% -, Montero has been pleased that the growth forecasts are "in line" with the Government's expectations, that is, 2.6% this year and 2.2% next year – in this case the Executive expects 2.3% -.

Montero has attributed to this disparity and divisions in the deflator of GDP the difference, in addition to that has pointed out that the Commission has not incorporated in detail the adjustment that will include the 2019 Budget. Of course, it has ruled out that there will be «New adjustments» in the accounts.

Higher penalties for highway concessionaires

On the other hand, the Council of Ministers has also approved a royal decree with urgent measures on roads with greater penalties to highway concessionaires that commit irregularities that harm drivers.

The Minister of Development, José Luis Ábalos, recalled the case of the collapse of the AP-6 for "snowfalls" that occurred at the beginning of this year. The sanctions, which until now did not exceed 15,000 euros, can now go from this amount to 300,000 euros in cases of "neglect."


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