Congress this Tuesday will consider processing the new taxes that could destroy 72,000 jobs, according to the CEOE think tank
Banks and energy companies are keeping busy due to the new taxes with which the cabinet expects to collect 7,000 million euros in two years. Congress will be confronted this Tuesday with the processing of these taxes, which are also harshly criticized from the Institute of Economic Studies.
The employers’ and employers’ think tank warned in July that the cabinet proposal could destroy a total of 72,000 jobs. And now he is warning of the impact it could have on Spanish companies compared to their European competitors, given the investor-perceived regulatory risk that the measure will create, he believes.
In fact, and according to a report prepared by these experts, “if the bill is passed as drafted, it will initiate a series of appeals against its application, which will likely end with the declaration of unconstitutionality for violating constitutional provisions.” legal certainty of Article 9.3 of the Constitution because of its retroactive effect and the fiscal 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 is “contrary to essential elements of Community law, as it discriminates on the basis of 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 over residents of Spain.
They also believe that these taxes effectively double taxation for banks and energy companies “subject to a higher corporate tax rate, 30% instead of the general rate of 25%, in addition to supporting various sector-specific taxes” .
The IEE experts also point out that there is legal fraud in the processing of the standard as a bill “as public consultation is avoided by this procedure”. In the same way, the report indicates that the rule “changes the financing regime of the Autonomous Communities, which do not participate in the collection of taxes in violation of the provisions of Art. 156 and 157 of the Constitution”.
“It must be taken into account that the sectors on which the taxes fall (financial and energy) are fundamental within an economy, thus increasing the obstacles they face, which are already very high in terms of regulation, equals the erosion of economic activity and employment«, the IEE experts point out.
In addition to destroying the institution’s employment forecast, its estimates also suggest that taxes could have a contracting effect on total economic activity of nearly €5,000 million, or four-tenths of GDP in 2021.
Source: La Verdad
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