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Energy will exclude tax regulation and international business


The parliamentary process of a new tax on energy companies’ extraordinary profits will continue in the courts after the Congressional Commission on Economic Affairs. Approved two operational amendments to PNV and PDeCAT to exclude regulated activities Apart from the fact that the tax is imposed on the net amount of the turnover, which will be taxed, only the activities carried out by the companies in Spain are affected.

The bill has been heavily contested by vetoes of around fifty amendments submitted by all parties, as the government uses a formula that is not very polite and is rarely used in parliament. In the discussion round, The opposition has taken the opportunity to accuse the governmentThat added to the criticism leveled by energy companies.

Excludes regulated electricity, gas and butane businesses

After these facts, The Commission has approved all the compromise amendments proposed, but the references from PNV and PDeCAT have proceeded without any dissenting opinion. Thus after the agreement between the groups and partners in the coalition government Companies whose supply is at regulated prices will not be affected by the tax (PVPC for electricity, TUR for gas, bottled LPG and piped LPG), amounting to 1.2% of total billing.

All invoicing outside of Spain and Regular income from transmission and distribution networks Electricity and natural gas and, in the case of generation with regulated remuneration and additional remuneration in non-insular regions, all income including facilities derived from market and financial remittances, respectively.

Contracted with Buildoo to make it permanent

Another of the approved amendments is that in 2023 the compensation of losses of subsidiaries of business groups in corporate tax will be limited to 50%. These agreements under the new tax framework are linked to agreements with Buildu, with whom the government has reached an agreement so that by the end of 2024, when the new banking and energy taxes expire, Evaluate their application and study the possibility of making them permanentAlso to manage these new taxes for the Basque and Navarre foral estates.

Source: lainformacion.com

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