The Finance Minister says they are looking for measures that are faster and more effective. 

María Jesús Montero, the Minister of Finance, has said that it is valid for large electricity companies to pay a greater part in taxes. He points out that large electricity companies have had more profits and has advocated implementing this tax surcharge at the beginning of next year. 

Likewise, the minister agreed with the content and objective of this tax surcharge. However, it disagreed in some detail with the proposal to set a 10-point surcharge on corporation tax.

In addition, the Treasury intends that this surcharge be applied on a real return. This is because sometimes the vehicle of corporate tax is not the one that brings the highest performance. It has not detailed through which tax figure it would be implemented. Nor has it clarified what type of legislation would be used to approve the measure. Taxation cannot always be regulated through a decree law or the budget bill. A new tax needs a bill, which will depend on the vehicle you choose. 

On the other hand, it insists that the most important thing is that it can be applied at the beginning of next year and that it allows an effective contribution. It confirms that they are looking for the fastest and most effective measures to protect the most vulnerable and the middle class.

B Law & Tax International Tax & Legal Advisors.


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