The energy tax will exclude regulated and international business


The parliamentary processing of the new tax on extraordinary profits from energy companies will continue its course in the Cortes after the Economic Affairs Commission of Congress has approved two transactional amendments of the PNV and PDeCAT to exclude regulated activities of the net amount of the turnover on which it will be taxed, in addition to the fact that the application of the tax affects only the activity that the companies carry out in Spain.

The veto of nearly fifty amendments submitted by all parties to this bill has given rise to enormous controversy, as the Government resorts to a formula that is not very courteous and rarely used in parliament. In the discussion round, The opposition has taken the opportunity to charge against the Governmentthus adding to the criticism leveled by energy companies.

Excludes the regulated electricity, gas and butane business

After these facts, the Commission has approved all compromise amendments tabled, but the referrals from PNV and PDeCAT have gone ahead without any vote against. In this way, after the agreement reached between the groups and the partners of the coalition government, the tax will not affect companies in which the supply is at a regulated price (PVPC for electricity, TUR for gas, bottled LPG and piped LPG), an amount that amounts to 1.2% of total billing.

All invoicing obtained outside of Spain and the Regulated income from transmission and distribution networks of electricity and natural gas and, in the case of generation with regulated remuneration and additional remuneration in non-peninsular territories, all income from the facilities, including those received from the market and economic dispatch, respectively.

Agreement with Bildu to make it permanent

Another of the approved amendments will limit the compensation of the losses of subsidiaries of business groups in corporate tax to 50% in the year 2023. These agreements within the framework of the new taxes are added to those reached with Bildu, with whom the The Government has reached an agreement so that by the end of 2024, when the new banking and energy taxes expire, the evaluate their application and study the possibility of making them permanentas well as for the Basque and Navarrese foral estates to manage these new taxes.


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