Statements by Juan de Villota on the Tax on the Banking Sector

Statements by Juan de Villota, Director of Tax Advisory at CECA, on the tax on the banking sector

– The situation experienced in recent days regarding the approval of the fiscal package is generating significant uncertainty.

– This uncertainty is undesirable. It is undesirable for the markets, it is undesirable for investors, it is undesirable for economic agents, ultimately, it is undesirable for our country.

– Regarding the potential approval of a tax on banking, we in the sector have been warning for years about the harmful effects this may have. It will affect the financing capacity and growth of Spain as a nation.

– At the same time, the downward evolution of interest rates does not in any way justify the continuation of the levy.

– The banking sector has been contributing significantly to the maintenance of public services, and it will continue to do so, but it must do so under conditions of equity, equality, and comparable to other sectors of activity, and to other competitors at the European level.

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