The company’s CEO assures that he will continue to the end in the fight against the extraordinary tax imposed by the government, both before the Spanish and European courts. Repsol achieved a net profit of 2,785 million euros in the first 9 months of the year.
Repsol CEO Josu Jon Imaz has warned that the company will analyze whether conditions are “stable and attractive enough to guarantee the profitability of the projects” before making any investment decision in the Spanish state. does it have “other alternatives”, such as Portugal.
He said this at a conference to present the results corresponding to the third quarter of the year, where it was announced that the company earned 2,785 million euros in the first nine months of the year, 14% less compared to the same period in 2022 In this sense, he has shown his dissatisfaction with the agreement reached by PSOE and Sumar on a possible coalition government that provides for a special tax on energy companies and banks, something that according to Imaz “is illegal, unconstitutional and discriminatory.” ” “.
He recalled that the current extraordinary tax, which taxes 1.2% of the turnover of companies with an income of more than 1 billion euros, has cost him around 450 million euros this year.
Imaz has announced that Repsol plans to make major investments in the transformation of its industrial complexes in Spain, but has indicated that the lack of stability in the regulatory and fiscal framework could determine these investments.
If conditions are not favorable, Imaz has indicated that the company could consider investing in Portugal or other alternatives.
In addition, Imaz has stated that the company will fight against this tax legally, both before the Spanish justice system and before European authorities, as there is a “quite important difference” between what the European Council has defined as a tax, because it is temporary to respond to market special conditions and based on profit, and not on turnover as in Spain.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
