The possibility of extending the tax that affects large energy companies is diluted like a sugar in a coffee and the Executive already assumes that it will be practically impossible to approve the measure. The big problem is in the difficult game of balance with which the Government deals almost daily, a panorama that takes on special relevance in tax matters due to the antagonistic positions of its usual partners, whose votes, without exception, . The Ministry of Finance recognizes that moving forward with the tax is “a complex objective because the reality is that currently the positions are very far apart,” although they encourage “giving dialogue a chance and avoiding generating greater tension.” Other government sources, however, are already reporting that at this time the chances of the initiative seeing the green light are practically nil. Given this panorama, the Executive is focusing its efforts on finding the ideal formula to be able to approve another transcendental measure for the accounts before the end of the year and which is still pending: .
This measure, which would bring an additional 1.5 billion to the collection and which declined in Congress three weeks ago, is vital to balance the Government’s numbers. Therefore, to ensure its approval, the Treasury considers approving it in the coming days through a royal decree law that ensures its green light.
The soap opera surrounding the tax on energy companies and the increase in diesel prices picked up pace at the end of last month, when Congress voted on the tax reform that the parliamentary groups had been introducing based on amendments to the transposition of the European directive that established a Minimum taxation to multinationals. , the proposal that was apparently going to be final sacrificed the energy tax in exchange for shielding the banking tax and the tax increase on diesel. However, in an unexpected turn of events, the tribute to the large electricity, gas and oil companies fell and he managed to extract from the PSOE the commitment to extend it before the end of the year. The party led by Ione Belarra also rejected the tax increase on diesel for voting on an amendment that included other minor changes, in their opinion, negative. As it was, the vote ended with some of the proposals saved, but with the energy tax and the diesel increase in limbo.
This Wednesday, the Government stepped on the accelerator to pace the conversations that will decide the future of the tax that affects energy companies and called on the partners, as established in the pact reached with Podemos on the horn. However, evidencing its frontal rejection of the measure and leaving the Executive and its partners on the left in a clear minority. The Catalans are against this tax despite the fact that the Treasury is open to deductions of up to 90% for green investment. The Basques, for their part, propose a comprehensive modification of the corporate tax to “stop making patches.” “We are not going to participate in a paripé that Podemos needs,” they add.
If the necessary support is not achieved in the coming days, which now appears to be the most likely scenario, the Executive must bring to Congress a royal decree law with the extension of the energy tax until 2025, according to the pact signed with Podemos. The problem for the Treasury, the government sources consulted assume, is that the scenario will be the same, so the vote will foreseeably fall after the almost assured rejection of Junts and the PNV, in addition to other opposition forces. It is the chronicle of a death foretold, although some of the left-wing partners believe that these two formations would be “overacting” and see it possible to reach “an intermediate agreement” that will satisfy all parties.
In this context of uncertainty, the Government’s efforts are focusing on ensuring the tax increase on diesel (which would not affect professional diesel). At first, the Treasury was studying the possibility of recovering it, but, given the fear that it will not see the light of day, it is most likely that the two measures will go their separate ways. The government sources consulted advance that it is most likely that a royal decree law for equalization will be presented in the coming days, before the end of the year. Members generally state that they would support the measure, although some, as a warning to sailors, warn that they would vote against it if it is processed with other changes not previously agreed upon.
The fiscal equalization of diesel to gasoline is an agreement reached between Spain and Brussels to accelerate the green transition and was partially approved three weeks ago in Congress. The Government needs the Commission to validate the changes to be able to receive the fifth payment of European funds – which amounts to 7.2 billion euros – and those that received the green light in the Lower House are insufficient. The groups only gave their support to the minimum rate for multinationals, to a technical correction in the corporate tax, to the permanence of the banking tax, to an adjustment to combat fraud in VAT on hydrocarbons and to a tax increase to the large investments in personal income tax and vapers.
