The compatibility of the Spanish Windfall Levy on Credit Institutions with EU law and International Economic Law (Investment law and tax treaties
Garcia Anton,Ricardo Nový, Zdeněk Baez Seara,David
Garcia Anton,Ricardo
Nový, Zdeněk
Baez Seara,David
Abstract
This contribution serves to provide a fully-fledged analysis of the compatibility of the Spanish windfall tax on credit institutions with EU law (EU monetary and banking policy, EU Fundamental Freedoms, and state aid) and international law (investment law and double tax treaties). Our analysis reveals that the design of the Spanish tax captures windfall profits that are large and easy to detect due to inflation and high interest rates. Although the tax is compatible with EU law, it compromises the area of bilateral investment treaties and bilateral tax treaties.
Description
Date
2024-12
Journal Title
Journal ISSN
Volume Title
Publisher
Research Projects
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Journal Issue
Keywords
windfall tax, banks and credit institutions, discrimination, state aid, EU monetary policy, banking supervision, bilateral investment treaties, bilateral tax treaties, SDG 10 - Reduced Inequalities, SDG 17 - Partnerships for the Goals
Citation
Garcia Anton, R, Nový, Z & Baez Seara, D 2024, 'The compatibility of the Spanish Windfall Levy on Credit Institutions with EU law and International Economic Law (Investment law and tax treaties', Nordic Tax Journal, vol. 2024, no. 1, pp. 1-33. https://doi.org/10.2478/ntaxj-2023-0010
License
info:eu-repo/semantics/openAccess