The IEE foresees a wave of resources against the tax on banks and energy companies

María Jesús Montero, Minister of Finance.

The Congress deals this Tuesday with the processing of the new taxes that, according to the CEOE think tank, could destroy 72,000 jobs

AC Madrid

Banking and energy companies maintain the pressure due to the new taxes with which the Government expects to collect 7,000 million euros in two years. Congress faces this Tuesday the processing of these taxes that, from the Institute of Economic Studies also criticize harshly.

The employers' employers' think tank already warned in July that the government's proposal could destroy a total of 72,000 jobs. And now he warns about the impact that it may have on Spanish companies compared to their European competitors, given the regulatory risk perceived by the investor that, in his opinion, the measure will cause.

In fact, and according to a report prepared by these experts, "if the Law Proposal is approved, as it is drafted, a series of appeals against its application will be triggered, which will probably end with its declaration of unconstitutionality for violating the principles constitutional provisions of legal security of article 9.3 of the Constitution due to its retroactivity and the tax principles of generality, equality and economic capacity of article 31.1 of the Constitution».

In the opinion of the experts, the regulation of the tax "violates essential elements of Community Law since it discriminates based on residence in Spain or in another country of the European Union" and "places credit institutions resident in other States of the European Union EU in a situation of competitive advantage compared to residents in Spain.

They also consider that these taxes basically represent a double taxation for banks and energy companies «which in the Corporate Tax are subject to a higher rate of tax, 30% instead of the general rate of 25%, in addition to supporting various sector-specific taxes'.

The IEE experts also indicate that there is a fraud of the Law in the processing of the norm as a Law Proposal "since public consultation is avoided through this procedure." In the same way, the report indicates that the rule “alters the financing regime of the Autonomous Communities, which do not participate in the collection of taxes contrary to the provisions of arts. 156 and 157 of the Constitution».

“It must be borne in mind that the sectors on which the taxes fall (financial and energy) are fundamental within an economy, so increasing the obstacles they have to face, which are already very high in regulatory terms, is equivalent to eroding the economic activity and employment«, indicate the IEE experts.

In addition to the destruction of employment forecast by the institution, its estimates also suggest that the taxes could have a contractionary impact on total economic activity of almost 5,000 million euros, that is, four tenths of GDP in 2021.

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