Banking industry appeals against banking tax - Association of Savings Banks and Banks created by such banks

The AEB and CECA associations have filed an appeal against the ministerial order approving the self-assessment and payment in instalments forms for the new tax on banks introduced by Act 7/2024

The industry points to the serious economic effects brought about by a tax which has a negative impact on financing for families and businesses, investment and the economy as a whole

The AEB and CECA banking associations have taken legal action against the new banking tax by bringing an administrative appeal against the Ministerial Order approving the self-assessment and payment in instalments forms for the tax (Order HAC/532/2025) recently published in the Official State Gazette.

These actions build on the industry's rejection of the new tax expressed last November when this new measure was added to the tax system to follow on from the extraordinary levy on banks instituted in 2022.

Following the publication of the Order, they remain firm in their rejection of the tax due to its serious effects on the financing of families and businesses, its negative impact on investment and its detrimental effect in general on the economy as a whole. The AEB and CECA also note that Spanish banks are the only ones in Europe to be liable to a tax of this kind which is a competitive disadvantage compared to other European banks.

As with the extraordinary levy, in December 2024 the European Central Bank (ECB) came out against this new tax and warned of its adverse effects, not least by “limiting credit institutions’ ability to provide credit, and potentially contributing to less favourable terms for customers on loans and other services” while it may also have “unintended consequences for credit institutions’ solvency and competitive positions.”

The ECB's criticisms have recently been endorsed by the Bank of Spain in its Spring Financial Stability Report, not only because of its negative effects on credit and the ability to cope with shocks but also because it “may lead to the splintering of the European financial system”. The International Monetary Fund (IMF) also called on the Spanish Government to “discontinue” this new tax in a recent report published in April.

The banking sector appeals the tax to the banking

Press releases

Antonio Romero, new Managing Director of CECA: “The Spanish banking sector faces the current geopolitical risks in a moment of strength”

Financial and Digital classroom expands its training offer for the third consecutive year, with new courses, videos and podcasts

CECA gathers in Madrid to the Committees of Accounting and Audit and Sustainable Finances of the Savings Banks' European Association and Retail Banks

The banking sector appeals the tax to the banking

The National Police strengthens the collaboration with the companies public-private in the fight against the financing of the terrorism and the radicalisms

Isidro Fainé chairs in Brussels the Social Board of Directors and Board and Philanthropic of the Worldwide Savings Banks Institute and Retail Banks (WSBI)