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The National Court rejects the precautionary suspension of the banking tax

MADRID, 12 Sep.

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The National Court rejects the precautionary suspension of the banking tax


The National Court has refused to adopt the precautionary measures that some entities had requested in relation to the appeal they presented regarding the extraordinary banking tax approved by the Government.

The decision adopted by the court, as Europa Press has been informed by financial sources, focuses on two precautionary measures that some entities requested: the suspension of payment of the tax until a final ruling is reached and raising the matter before the Court of Justice. of the European Union (CJEU).

The decision of the National Court does not address the substance of the issue, which is why it has not determined the validity or legality of the tax approved by the Government. It has only denied these two precautionary measures.

The court's denial occurred in response to the measures requested by Banco Sabadell, Bankinter and Kutxabank, which presented their appeals last February.

The rest of the large entities also appealed against the liquidation of the tribune, although they did not request this type of measure, nor did the employers' associations AEB and CECA, which appealed the order published by the Ministry of Finance approving the declaration models and advance payment of the new temporary tax on banks.

In this way, the National Court maintains the same criteria that it had already expressed in the month of February regarding the temporary tax on energy companies, appealed by Repsol. The court's criterion is that paying the lien does not represent irreparable harm to the affected companies.

The Government plans to collect around 1.3 billion euros this year from the banking tax. Of this amount, the majority will be paid by the six listed banks of the Ibex 35, up to 1,120 million euros, according to the first quarter accounts, where the annual payment of the levy is already accounted for. It should be noted that, 'de facto', the banks have only proceeded to make the first payment corresponding to February. The next settlement period ends this September.

Likewise, energy companies face a disbursement this year of another 1.7 billion euros. Altogether, during the two years that the taxes will be active, the public coffers will obtain about 3,000 million each year.

This new temporary banking tax is levied at 4.8% on the interest and commissions of all entities that invoice more than 800 million in 2019 and is limited to the activity that the entities carry out in Spain.