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Spain Approves Forms for Windfall Taxes on Energy and Banking Sectors — Orbitax Tax News & Alerts

Spain has published Order HFP/94/2023 of 2 February 2023 in the Official Gazette, which approves four new forms for the windfall profits taxes on the energy and banking sectors. As previously reported, Law 38/2022 of 27 December 2022 introduced measures to levy tax at the rate of 1.2% on the net turnover of large energy companies derived from activity in Spain and at the rate of 4.8% on net interest and commission fee income of large financial/credit institutions in Spain. Both taxes apply for the years 2023 and 2024, with an advance payment due by 20 February and a final (balance) payment due by 20 September. For this purpose, the four forms approved by the Order include:

  • Form (Model) 795 - Temporary Energy Tax - Final Return (Declaration)
  • Form (Model) 796 - Temporary Energy Tax - Advance payment
  • Form (Model) 797 - Temporary Tax on large financial/credit institutions - Final Return (Declaration)
  • Form (Model) 798 - Temporary charge of credit institutions and financial credit establishments - Advance Payment

Order HFP/94/2023 entered into force on 4 February 2023.