The decision of the Supreme Court to correct its recent doctrine and charge customers the tax on Documented Legal Acts (AJD) in the signature of mortgages has freed the autonomous communities to return up to 5,000 million euros, corresponding to the credits subscribed since 2014 .
Regardless of the impact that could have had an impact on the banking sector, this morning the Treasury estimated in that millionaire amount the disbursement that the Autonomous Administrations would have had to face, in a scenario of fiscal retroactivity that has not been finally recognized by the high court.
After two days of deliberation and after more than 15 hours, the plenary of the Contentious-Administrative Chamber has decided, by 15 votes in favor and 13 against, to revoke the doctrine known on October 18 and charge the mortgaged with the payment of the tax, as it has been since 1995, since the entry into force of the royal decree.
This improves the outcome foreseen by the entities themselves, which, although they regretted the "radical turn" of the Supreme Court, undertook to respect any final verdict, and trusted that the payment of the fee would begin to be effective only from that date onwards. of the sentence.
The heads of the national bank advanced so that the ruling would not force to make extraordinary provisions but only adjustments in their commercial offer.
This is the case of CaixaBank, whose CEO, Gonzalo Gortázar, ruled out increasing his provisions on account of benefits, and ensured that, to finally impose this tax, they would adapt their practice in the mortgage market, although "who has not done something wrong should not be penalized for it. "
Bankia also, which did not contemplate "a different scenario" from the one outlined in recent years by the Supreme Court, and Banco Sabadell, which argued that it would have "no sense" to apply retroactivity to the mortgage tax.
When it is known after the markets close, it is expected that tomorrow the Stock Exchange will breathe and recover from the initial shock that punished listed Spanish banks that, in a single day, suffered a setback of more than 5,500 million in their capitalization.
For now, if yesterday, after the first day, the IBEX 35 rose by 0.20% encouraged by the financial sector, today the session has passed in the opposite direction, and the selective has been left by 0.24% and 9,000 points ballasted by these values.
In this way, the bank, which will continue to pay other minor costs of the formalization process, will be exempt from taking charge of a tax that represents 70% of the constitution expenses.