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Kutxabank appeals the bank tax and requests precautionary measures

Kutxabank appeals the bank tax and requests precautionary measures

Kutxabank appeals the bank tax and requests precautionary measures

This is the third banking entity that presents an appeal against the new tax, in addition to the employers AEB and CECA.

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  • Euskaraz irakurri

Euskaraz irakurri: Kutxabankek helegitea aurkeztu du bankuen ezohiko irabaziei ezarritako zergaren aurka

kutxabank has filed an appeal in the National Court against the rates for extraordinary bank profits, approved by the Government of Spain, as EITB has learned. It has also requested precautionary measures such as the stay or suspension of the order.

Kutxabank is not the first bank to appeal the tax. Previously, Bankinter and Abanca also did it, in addition to the employers’ associations AEB and CECA.

The appeal has been formally filed by cajasur, an entity belonging to the Basque group, since, according to the law, it is the entity obliged to pay the entire tax corresponding to the Kutxabank Group, which, they point out, “undermines” its “equity strength”. It is estimated that Kutxabank would have to pay around 50 million euros for these fees.

In this sense, Kutxabank sources have explained that its governing bodies have made this decision “for a necessary governance issue” and “as a way of protecting its shareholders, the banking foundations.”

In the same way, the group considers that the new tax “It brings uncertainty and a competitive disadvantage to the sector compared to its competitors”among which he cites smaller banks, digital banks and European entities.

Kutxabank alleges that its tax contributions to public coffers “have increased” in recent years, which amounts to more than 400 million euros per year.

The large electric They have also joined the judicial offensive against the tax: the association that brings together the main electricity companies in Spain (Iberdrola, Endesa and EDP) today announced its decision to also appeal to the National Court.

Euskadi estimates to achieve 400 million euros in two years with this new tax. The Minister of Economy and Finance, Pedro Azpiazu, hoped yesterday to have the first payment of that money by May, although at the moment the exact amount that will arrive in that first installment is unknown.

Source: Eitb

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