Frequently asked questions about the temporary tax on credit institutions and financial institutions

No.

In accordance with the provisions of article 1, section 7 of Law 38/2022, of December 27, the amount of the benefit and its advance payment will NOT be considered tax-deductible expenses for the purposes of determining the taxable base of Corporate Income Tax.

Law 38/2022, of December 27, establishes regarding this issue in article 1, section 8, that the amount of the benefit and its advance payment will NOT be subject to direct or indirect economic repercussions.

Failure to comply with the obligation referred to in the previous paragraph will be considered a very serious infringement and will be punishable by a proportional monetary fine of 150 percent of the amount charged.

This infringement will not be tax-related and will be subject to the general administrative sanctioning regime.

The prohibition contained in number 7 of article 2 of the Law refers only to the economic impact on the entity's clients, but not to the distribution that may be made to the other entities comprising the group that individually have the status of credit institution or financial credit institution, which are those that must financially support the provision.

The special rule provided for tax groups and economic groups refers to the delimitation of the minimum quantitative requirement for being subject to the benefit, as well as to the quantification and payment of the same, the subjects really obliged to support the benefit being all entities that, being included in said groups, are considered credit entities and financial credit establishments.

Therefore, the income made by the entity that is obliged to pay the benefit may be distributed among all the entities of the group that are considered credit institutions or financial credit institutions based on the amounts corresponding to each of them.

The administrative review of the acts relating to the benefit will be carried out in accordance with the provisions of Title V of Law 58/2003, of December 17, General Tax Law.